Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $89.35 Consensus PT from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $89.35.

A number of equities analysts recently weighed in on PEG shares. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Finally, BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research report on Thursday, April 10th.

Public Service Enterprise Group Price Performance

PEG opened at $83.49 on Friday. The firm’s fifty day moving average price is $81.92 and its two-hundred day moving average price is $85.66. The company has a market capitalization of $41.62 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.78 and a beta of 0.52. 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 $64.03 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently made changes to their positions in PEG. Norges Bank bought a new position in Public Service Enterprise Group in the fourth quarter valued at $445,005,000. Raymond James Financial Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $376,209,000. Jennison Associates LLC increased its position in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after buying an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after buying an additional 1,483,662 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.