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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $89.83.

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America lowered their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank upped their price objective on shares of 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.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors have recently made changes to their positions in the business. Transce3nd LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $25,000. REAP Financial Group LLC grew its holdings in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $39,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

NYSE:PEG opened at $81.59 on Monday. The firm has a market cap of $40.68 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a 52 week low of $63.31 and a 52 week high of $95.22. The firm’s fifty day moving average is $83.74 and its 200-day moving average is $86.02. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

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.