Public Service Enterprise Group (NYSE:PEG) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by Wells Fargo & Company from $100.00 to $95.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. UBS Group lifted 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 report on Wednesday, October 30th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Public Service Enterprise Group Stock Down 0.4 %

PEG stock opened at $82.92 on Wednesday. The company has a market capitalization of $41.31 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group has a 12 month low of $59.67 and a 12 month high of $95.22. The firm’s fifty day simple moving average is $84.90 and its 200-day simple moving average is $86.03. 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 (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for 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%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 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 the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEG. Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after buying an additional 18,627 shares during the period. DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $8,244,000. Cullen Investment Group LTD. raised its stake in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $2,565,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.