Barclays Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG - Free Report) had its price target lowered by Barclays from $98.00 to $88.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider's stock.

A number of other brokerages also recently issued reports on PEG. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 5th. Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Bank of America boosted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Four investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.69.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $1.33 during mid-day trading on Tuesday, hitting $83.20. 1,023,215 shares of the company traded hands, compared to its average volume of 2,784,598. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group has a 1 year low of $56.85 and a 1 year high of $92.20. The stock has a market cap of $41.45 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 2.87 and a beta of 0.61. The stock has a 50-day moving average price of $86.49 and a two-hundred day moving average price of $78.86.

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

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares of the company's stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company's stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 over the last three months. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Old Port Advisors boosted its holdings in Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock worth $2,099,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC boosted its stake in Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock worth $827,000 after purchasing an additional 115 shares in the last quarter. Cigna Investments Inc. New grew its position in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock worth $451,000 after purchasing an additional 124 shares during the last quarter. Great Lakes Retirement Inc. increased its stake in Public Service Enterprise Group by 0.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider's stock valued at $2,619,000 after purchasing an additional 127 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Public Service Enterprise Group by 1.8% in the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider's stock worth $548,000 after buying an additional 131 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.