Public Service Enterprise Group’s (PEG) “Buy” Rating Reiterated at Guggenheim

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating reissued by Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $98.00 price objective on the utilities provider’s stock. Guggenheim’s price objective points to a potential upside of 16.82% from the company’s previous close.

A number of other equities analysts also recently weighed in on PEG. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Stock Up 0.8 %

PEG traded up $0.66 during trading on Wednesday, hitting $83.89. The company had a trading volume of 791,740 shares, compared to its average volume of 2,272,640. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group has a 1-year low of $59.67 and a 1-year high of $95.22. The business has a 50-day moving average of $84.91 and a 200-day moving average of $86.05. The company has a market cap of $41.80 billion, a PE ratio of 20.67, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 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 down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently made changes to their positions in the company. Integrated Advisors Network LLC lifted its stake in Public Service Enterprise Group by 5.2% in the fourth quarter. Integrated Advisors Network LLC now owns 7,790 shares of the utilities provider’s stock worth $658,000 after acquiring an additional 383 shares during the period. Mackenzie Financial Corp raised its position in shares of Public Service Enterprise Group by 17.8% in the 4th quarter. Mackenzie Financial Corp now owns 61,691 shares of the utilities provider’s stock valued at $5,212,000 after purchasing an additional 9,305 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Public Service Enterprise Group by 25.5% in the fourth quarter. Toronto Dominion Bank now owns 276,773 shares of the utilities provider’s stock worth $23,384,000 after buying an additional 56,273 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $5,964,000. Finally, Public Employees Retirement System of Ohio boosted its position in Public Service Enterprise Group by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 194,130 shares of the utilities provider’s stock valued at $16,402,000 after buying an additional 4,142 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

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.