Public Service Enterprise Group (NYSE:PEG) Earns Buy Rating from Guggenheim

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating restated by analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $98.00 price objective on the utilities provider’s stock. Guggenheim’s target price indicates a potential upside of 21.35% from the stock’s previous close.

PEG has been the subject of several other research reports. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets increased their price objective 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. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Scotiabank increased 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. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Public Service Enterprise Group Price Performance

PEG stock opened at $80.76 on Wednesday. The company has a market capitalization of $40.24 billion, a P/E ratio of 19.84, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group has a twelve month low of $61.36 and a twelve month high of $95.22. The business has a 50 day simple moving average of $84.86 and a 200-day simple moving average of $85.99. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently made changes to their positions in PEG. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $25,000. REAP Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $35,000. Institutional investors and hedge funds 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.