Public Service Enterprise Group (NYSE:PEG) Given New $94.00 Price Target at UBS Group

Public Service Enterprise Group (NYSE:PEG) had its price objective upped by research analysts at UBS Group from $87.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective suggests a potential upside of 5.89% from the stock’s current price.

A number of other brokerages have also issued reports on PEG. Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, June 17th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.46.

Public Service Enterprise Group Stock Up 1.0 %

Public Service Enterprise Group stock traded up $0.87 during midday trading on Tuesday, reaching $88.77. The company’s stock had a trading volume of 447,873 shares, compared to its average volume of 2,822,342. The stock’s 50-day simple moving average is $79.97 and its 200-day simple moving average is $73.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $44.21 billion, a P/E ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group has a 52-week low of $53.71 and a 52-week high of $88.78.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,068 shares of company stock worth $2,406,965. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently added to or reduced their stakes in PEG. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC lifted its position in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.