Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Price Target at $67.39

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $67.39.

A number of research analysts have recently issued reports on PEG shares. KeyCorp raised their price target on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 13th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, September 17th. Finally, Barclays raised their price target on shares of Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 25th.

PEG stock traded down $0.07 during mid-day trading on Friday, hitting $61.63. 14,475 shares of the company were exchanged, compared to its average volume of 2,086,249. The company has a market capitalization of $31.16 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 4.99 and a beta of 0.54. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 0.97. Public Service Enterprise Group has a twelve month low of $51.54 and a twelve month high of $65.33. The firm has a fifty day simple moving average of $63.03 and a 200 day simple moving average of $61.71.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $2.31 billion. Public Service Enterprise Group had a net margin of 15.49% and a return on equity of 11.40%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group will post 3.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 8th will be given a $0.51 dividend. The ex-dividend date is Tuesday, September 7th. This represents a $2.04 annualized dividend and a yield of 3.31%. Public Service Enterprise Group’s dividend payout ratio is presently 59.48%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $64.60, for a total transaction of $315,894.00. Following the sale, the chief operating officer now directly owns 75,533 shares in the company, valued at approximately $4,879,431.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rose M. Chernick sold 400 shares of the business’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $64.71, for a total transaction of $25,884.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,980 shares of company stock worth $698,831. 0.52% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. OLD Republic International Corp grew its stake in shares of Public Service Enterprise Group by 82.4% in the 2nd quarter. OLD Republic International Corp now owns 1,217,500 shares of the utilities provider’s stock worth $72,733,000 after purchasing an additional 550,000 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Public Service Enterprise Group by 9.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 288,463 shares of the utilities provider’s stock worth $17,368,000 after purchasing an additional 24,152 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 583.6% in the 1st quarter. Voloridge Investment Management LLC now owns 520,734 shares of the utilities provider’s stock worth $31,353,000 after purchasing an additional 444,559 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Public Service Enterprise Group by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,272,556 shares of the utilities provider’s stock worth $74,182,000 after purchasing an additional 16,334 shares during the last quarter. Finally, ARGI Investment Services LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $3,309,000. 70.24% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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

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