Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) has earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $89.17.
PEG has been the topic of several recent analyst reports. UBS Group upped their target price on 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. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company.
View Our Latest Research Report on Public Service Enterprise Group
Public Service Enterprise Group Stock Up 1.4 %
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.78%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.
Insider Transactions at Public Service Enterprise Group
In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock worth $1,588,631 over the last quarter. 0.57% of the stock is currently owned by insiders.
Institutional Trading of Public Service Enterprise Group
Several institutional investors have recently bought and sold shares of the business. Centre Asset Management LLC grew its stake in Public Service Enterprise Group by 7.4% in the 4th quarter. Centre Asset Management LLC now owns 3,812 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 264 shares during the period. GAMMA Investing LLC grew its position in shares of Public Service Enterprise Group by 14.8% in the fourth quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 881 shares during the period. Principal Financial Group Inc. grew its position in shares of Public Service Enterprise Group by 3.1% in the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider’s stock valued at $53,756,000 after purchasing an additional 18,344 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $10,137,000. Finally, Inspire Trust Co. N.A. raised its position in shares of Public Service Enterprise Group by 11.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 14,000 shares of the utilities provider’s stock worth $1,249,000 after purchasing an additional 1,476 shares during the last quarter. 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.
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