Public Service Enterprise Group (NYSE:PEG) PT Raised to $73.00 at Scotiabank

Public Service Enterprise Group (NYSE:PEG) had its price target raised by Scotiabank from $62.00 to $73.00 in a research report released on Tuesday, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

PEG has been the topic of several other research reports. Bank of America raised their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a buy rating in a report on Thursday, June 6th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating for the company in a research report on Monday, June 24th. Guggenheim raised shares of Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a buy rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $76.67.

Public Service Enterprise Group Stock Down 0.1 %

Public Service Enterprise Group stock opened at $81.04 on Tuesday. Public Service Enterprise Group has a 12 month low of $53.71 and a 12 month high of $81.89. The stock has a fifty day simple moving average of $76.54 and a two-hundred day simple moving average of $70.51. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a market cap of $40.36 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.00 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Public Service Enterprise Group by 5,613.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the last quarter. Greenleaf Trust grew its stake in shares of Public Service Enterprise Group by 5.7% in the 4th quarter. Greenleaf Trust now owns 11,090 shares of the utilities provider’s stock worth $678,000 after buying an additional 595 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Public Service Enterprise Group by 55.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,659 shares of the utilities provider’s stock worth $101,000 after buying an additional 592 shares during the last quarter. Signaturefd LLC raised its position in shares of Public Service Enterprise Group by 2.3% during the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after buying an additional 187 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Public Service Enterprise Group by 21.8% in the 4th quarter. CWM LLC now owns 14,487 shares of the utilities provider’s stock valued at $886,000 after acquiring an additional 2,594 shares during the last quarter. 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.