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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.31.

Several research firms recently weighed in on PEG. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Mizuho upped their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on 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 owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal 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 firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s 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 transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 9,322 shares of company stock valued at $607,376 in the last quarter. Insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently added to or reduced their stakes in the stock. Rockline Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $1,185,000. Allspring Global Investments Holdings LLC grew its stake in Public Service Enterprise Group by 4.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after buying an additional 17,838 shares in the last quarter. Jennison Associates LLC grew its stake in Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after buying an additional 397,606 shares in the last quarter. International Assets Investment Management LLC grew its stake in Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after buying an additional 169,425 shares in the last quarter. Finally, PATRIZIA Pty Ltd purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $5,158,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.0 %

PEG stock opened at $73.55 on Tuesday. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $75.17. The company has a market cap of $36.63 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. The business’s 50-day simple moving average is $68.44 and its 200 day simple moving average is $63.84. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 EPS. On average, research analysts anticipate that Public Service Enterprise Group will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

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.