Barclays Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Public Service Enterprise Group (NYSE:PEG - Free Report) had its price objective cut by Barclays from $98.00 to $88.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider's stock.

A number of other brokerages have also recently commented on PEG. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a "hold" rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 2.3 %

Public Service Enterprise Group stock traded up $1.91 during trading hours on Tuesday, reaching $83.78. The stock had a trading volume of 2,608,325 shares, compared to its average volume of 2,792,401. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The business's 50 day moving average price is $86.56 and its 200-day moving average price is $78.99. Public Service Enterprise Group has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.66 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company's stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company's stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock worth $3,397,855 in the last quarter. Company insiders own 0.18% of the company's stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC increased its stake in Public Service Enterprise Group by 9.8% during the third quarter. Apollon Wealth Management LLC now owns 14,713 shares of the utilities provider's stock worth $1,313,000 after purchasing an additional 1,309 shares during the period. WCM Investment Management LLC increased its stake in Public Service Enterprise Group by 133.1% during the third quarter. WCM Investment Management LLC now owns 13,426 shares of the utilities provider's stock worth $1,185,000 after purchasing an additional 7,667 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth about $35,000. Los Angeles Capital Management LLC increased its stake in Public Service Enterprise Group by 72.3% during the third quarter. Los Angeles Capital Management LLC now owns 832,016 shares of the utilities provider's stock worth $74,224,000 after purchasing an additional 349,139 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Public Service Enterprise Group by 0.6% during the third quarter. Crossmark Global Holdings Inc. now owns 26,771 shares of the utilities provider's stock worth $2,388,000 after purchasing an additional 164 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

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.