Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $89.17.

Several equities analysts have recently commented on PEG shares. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a "hold" rating and a $85.00 price target on the stock. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays reduced their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their target price 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.

Public Service Enterprise Group Stock Up 0.0 %

NYSE PEG traded up $0.02 during mid-day trading on Wednesday, reaching $84.49. 1,784,643 shares of the company's stock traded hands, compared to its average volume of 2,722,350. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a 1-year low of $56.85 and a 1-year high of $95.22. The company has a fifty day simple moving average of $87.98 and a 200-day simple moving average of $83.40. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 3.18 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.84%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the company's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company's stock, valued at $4,385,252.17. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,420 shares of company stock worth $1,471,625. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sound Shore Management Inc. CT acquired a new stake in Public Service Enterprise Group in the second quarter worth approximately $71,298,000. FMR LLC raised its stake in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider's stock valued at $178,763,000 after buying an additional 732,443 shares during the period. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 79.5% in the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock valued at $134,006,000 after buying an additional 665,105 shares during the period. Finally, Raymond James & Associates boosted its stake in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock valued at $255,954,000 after buying an additional 663,012 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

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.