Public Service Enterprise Group (NYSE:PEG) Given New $100.00 Price Target at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG - Free Report) had its target price upped by Morgan Stanley from $96.00 to $100.00 in a report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider's stock.

PEG has been the topic of a number of other reports. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research note on Wednesday, March 19th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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Public Service Enterprise Group Stock Performance

NYSE PEG traded up $0.28 on Thursday, reaching $83.26. 2,446,254 shares of the stock were exchanged, compared to its average volume of 2,548,438. The firm has a market capitalization of $41.51 billion, a PE ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a one year low of $64.03 and a one year high of $95.22. The company's 50-day simple moving average is $83.48 and its two-hundred day simple moving average is $86.11. 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 (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $0.54 EPS. Public Service Enterprise Group's revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares of the company's stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PEG. Empowered Funds LLC boosted its holdings in Public Service Enterprise Group by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider's stock valued at $746,000 after acquiring an additional 597 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $2,258,000. Segall Bryant & Hamill LLC purchased a new position in Public Service Enterprise Group in the third quarter worth approximately $2,498,000. Commerce Bank grew its holdings in Public Service Enterprise Group by 2.9% during the 3rd quarter. Commerce Bank now owns 44,879 shares of the utilities provider's stock worth $4,004,000 after acquiring an additional 1,261 shares in the last quarter. Finally, Howe & Rusling Inc. purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $488,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

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.