Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $67.15 Consensus Target Price from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $67.15.

Several analysts have recently issued reports on PEG shares. Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. 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 for the company in a report on Tuesday, February 27th. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Monday, January 22nd. Finally, Bank of America raised their price objective 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.

Public Service Enterprise Group Stock Down 0.4 %

Public Service Enterprise Group stock opened at $67.82 on Friday. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $68.39. The stock has a market cap of $33.81 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The firm’s 50-day simple moving average is $64.64 and its 200 day simple moving average is $62.32. 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 (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. Research analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’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 sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock worth $511,814 over the last three months. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Operose Advisors LLC raised its stake in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $31,000. CNB Bank bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $36,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth about $36,000. Hedge funds and other institutional investors 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.