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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $86.69.

A number of research analysts have recently commented on PEG shares. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. 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 report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,783 shares of company stock worth $2,381,626 over the last ninety days. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of PEG. Old Port Advisors lifted its position in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the period. First Commonwealth Financial Corp PA boosted its position in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares in the last quarter. Cigna Investments Inc. New grew its stake in shares of Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after buying an additional 124 shares during the period. Finally, Great Lakes Retirement Inc. increased its position in Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock valued at $2,619,000 after buying an additional 127 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $89.43 on Tuesday. Public Service Enterprise Group has a 1 year low of $56.85 and a 1 year high of $92.20. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. 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 $87.68 and its 200 day simple moving average is $80.17.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

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.