Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $88.83.

Several research analysts have weighed in on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $85.77 on Thursday. The business’s 50-day moving average is $85.07 and its 200-day moving average is $85.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group has a fifty-two week low of $59.29 and a fifty-two week high of $95.22.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 2.94%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Old Port Advisors raised its position in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management lifted its position in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 121 shares during the period. First Commonwealth Financial Corp PA grew its holdings in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares in the last quarter. Finally, Cigna Investments Inc. New grew its holdings in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.