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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $86.69.

A number of equities analysts have weighed in on PEG shares. Bank of America boosted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a "hold" rating and a $85.00 price target for the company. Wells Fargo & Company increased their target price on 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. Royal Bank of Canada increased their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th.

Public Service Enterprise Group Trading Down 1.4 %

NYSE:PEG traded down $1.26 during trading hours on Tuesday, hitting $86.68. The company had a trading volume of 648,585 shares, compared to its average volume of 2,779,438. The company has a market capitalization of $43.19 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. The stock has a 50-day moving average price of $86.95 and a 200 day moving average price of $79.51. Public Service Enterprise Group has a 52 week low of $56.85 and a 52 week high of $92.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates 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 19.48% and a return on equity of 10.70%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. On average, equities research analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company's stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's 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 of the company's stock, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value 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 approximately $5,419,476.24. 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 over the last quarter. Insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PEG. Raymond James & Associates grew its holdings in Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider's stock valued at $162,590,000 after buying an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at $71,298,000. Hsbc Holdings PLC grew its holdings in Public Service Enterprise Group by 43.2% in the 2nd 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 in the last quarter. Jennison Associates LLC grew its holdings in Public Service Enterprise Group by 79.5% in the 3rd 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 in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider's stock valued at $59,023,000 after buying an additional 634,587 shares in the last quarter. 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.