Public Service Enterprise Group (NYSE:PEG) PT Raised to $71.00 at Barclays

Public Service Enterprise Group (NYSE:PEG) had its price target raised by stock analysts at Barclays from $68.00 to $71.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 10.47% from the stock’s previous close.

Several other equities analysts have also commented on the stock. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research note on Monday, January 22nd. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.58.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $64.27 on Monday. The firm’s 50 day moving average price is $63.43 and its 200-day moving average price is $61.80. 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 one year low of $53.71 and a one year high of $67.51. The firm has a market cap of $32.04 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. As a group, equities research analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

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 transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, 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 other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,948 shares of company stock valued at $510,300. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after buying an additional 170 shares during the period. IFP Advisors Inc grew its stake in shares of Public Service Enterprise Group by 14.2% in the 2nd quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Public Service Enterprise Group by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after purchasing an additional 177 shares during the last quarter. Strategic Investment Advisors MI grew its stake in shares of Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after purchasing an additional 179 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Public Service Enterprise Group by 4.1% in the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

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.