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

Public Service Enterprise Group Incorporated (NYSE:PEG) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $81.46.

Several analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. 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 target on the stock. Barclays raised their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, UBS Group upped their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock valued at $2,406,965 in the last three months. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently modified their holdings of PEG. Family Firm Inc. bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the second quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the first quarter worth about $36,000. Salomon & Ludwin LLC raised its holdings 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 purchasing an additional 560 shares during the last quarter. Finally, PFS Partners LLC lifted its position in Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $88.26 on Monday. The stock has a 50-day simple moving average of $80.76 and a 200 day simple moving average of $74.18. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $88.86. The stock has a market capitalization of $43.96 billion, a PE ratio of 24.21, a P/E/G ratio of 3.20 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. Research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

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.