Public Service Enterprise Group (NYSE:PEG) PT Raised to $89.00

Public Service Enterprise Group (NYSE:PEG) had its price objective lifted by BMO Capital Markets from $86.00 to $89.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 0.86% from the company’s current price.

Other research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America increased their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Barclays increased their target price on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $89.77 on Monday. The firm’s fifty day moving average price is $85.11 and its 200 day moving average price is $77.43. Public Service Enterprise Group has a 1-year low of $56.85 and a 1-year high of $92.20. 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 firm has a market cap of $44.72 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS 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 return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm 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 Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on 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 directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on 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 directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several institutional investors have recently modified their holdings of PEG. Family Firm Inc. acquired a new stake in shares of 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 in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at $36,000. Salomon & Ludwin LLC boosted its stake in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. Finally, PFS Partners LLC boosted its stake in Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.