Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $66.38 Consensus Price Target from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $66.91.

A number of research firms have recently weighed in on PEG. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Barclays increased their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Royal Bank of Canada boosted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Bank of America upped their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd.

Read Our Latest Stock Report on PEG

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock valued at $510,300 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of PEG. Kapitalo Investimentos Ltda boosted its holdings in shares of Public Service Enterprise Group by 391.6% during the fourth quarter. Kapitalo Investimentos Ltda now owns 14,688 shares of the utilities provider’s stock worth $898,000 after acquiring an additional 11,700 shares during the period. Newbridge Financial Services Group Inc. increased its position in Public Service Enterprise Group by 99.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,042 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 520 shares during the period. Nomura Holdings Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $615,000. HighPoint Advisor Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $535,000. Finally, Grayhawk Investment Strategies Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $478,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $66.64 on Monday. The business has a fifty day moving average of $61.82 and a 200-day moving average of $61.32. The firm has a market cap of $33.23 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $67.51.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company’s revenue was down 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.60%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Public Service Enterprise Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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