Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $88.08 Average PT from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $88.08.

A number of research analysts recently weighed in on the company. Scotiabank boosted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a "hold" rating and a $85.00 price objective on the stock. Barclays cut their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. BMO Capital Markets upped 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, Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,361 shares of company stock valued at $2,356,562. Company insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Finally, Friedenthal Financial acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $52,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

NYSE PEG traded down $1.52 on Friday, hitting $90.00. 1,646,754 shares of the stock were exchanged, compared to its average volume of 2,252,659. The company has a market capitalization of $44.84 billion, a PE ratio of 22.11, a P/E/G ratio of 3.37 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business's fifty day moving average is $89.65 and its 200 day moving average is $81.98. Public Service Enterprise Group has a 52 week low of $56.85 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Public Service Enterprise Group Company Profile

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.