Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $86.69 Consensus PT from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $86.69.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Scotiabank upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd.

View Our Latest Stock Analysis on Public Service Enterprise Group

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,783 shares of company stock worth $2,381,626. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently added to or reduced their stakes in PEG. Envestnet Portfolio Solutions Inc. raised its holdings in Public Service Enterprise Group by 2.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 27,121 shares of the utilities provider’s stock valued at $1,811,000 after buying an additional 653 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Public Service Enterprise Group by 3.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 14,012 shares of the utilities provider’s stock valued at $936,000 after acquiring an additional 439 shares in the last quarter. Sei Investments Co. lifted its holdings in Public Service Enterprise Group by 35.7% in the 1st quarter. Sei Investments Co. now owns 243,152 shares of the utilities provider’s stock worth $16,237,000 after purchasing an additional 63,983 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Public Service Enterprise Group by 18.7% during the first quarter. Russell Investments Group Ltd. now owns 285,077 shares of the utilities provider’s stock worth $19,037,000 after purchasing an additional 44,981 shares during the period. Finally, Entropy Technologies LP acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $1,446,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.0 %

PEG stock opened at $87.00 on Tuesday. 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’s 50 day simple moving average is $87.20 and its 200-day simple moving average is $79.69. Public Service Enterprise Group has a 12 month low of $56.85 and a 12 month high of $92.20. The firm has a market capitalization of $43.35 billion, a PE ratio of 21.39, a P/E/G ratio of 3.17 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities analysts expect that Public Service Enterprise Group will post 3.66 earnings per share for the current fiscal year.

About Public Service Enterprise Group

(Get Free Report

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.

Further Reading

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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