Public Service Enterprise Group (NYSE:PEG) PT Raised to $94.00 at UBS Group

Public Service Enterprise Group (NYSE:PEG) had its target price upped by UBS Group from $87.00 to $94.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

A number of other brokerages have also commented on PEG. Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Royal Bank of Canada increased their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an outperform rating in a report on Monday, July 15th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a market perform rating in a report on Friday, August 2nd. Scotiabank increased 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. Finally, Jefferies Financial Group initiated 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 for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $81.46.

Public Service Enterprise Group Trading Up 1.0 %

NYSE PEG opened at $88.26 on Tuesday. Public Service Enterprise Group has a 12 month low of $53.71 and a 12 month high of $88.86. The stock has a market cap of $43.96 billion, a P/E ratio of 24.45, a P/E/G ratio of 3.20 and a beta of 0.60. The stock’s fifty day moving average price is $80.76 and its 200-day moving average price is $74.18. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last released its 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). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.70 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently modified their holdings of PEG. Raymond James & Associates raised its holdings in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after acquiring an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $71,298,000. Hsbc Holdings PLC raised its holdings in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after acquiring an additional 634,587 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.