Barclays Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $98.00

by · The Cerbat Gem

Public Service Enterprise Group (NYSE:PEG – Free Report) had its price target boosted by Barclays from $80.00 to $98.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group upped their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a neutral rating in a report on Tuesday, September 24th. Guggenheim upgraded shares of Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price target on the stock in a report on Monday, June 17th. Bank of America raised their price objective 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. Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a hold rating and a $85.00 target price for the company. Finally, Morgan Stanley lifted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an overweight rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of Moderate Buy and a consensus price target of $84.62.

Check Out Our Latest Research Report on Public Service Enterprise Group

Public Service Enterprise Group Price Performance

NYSE PEG opened at $88.70 on Monday. Public Service Enterprise Group has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company’s 50 day simple moving average is $83.30 and its 200 day simple moving average is $75.91. The firm has a market capitalization of $44.18 billion, a PE ratio of 24.94, a P/E/G ratio of 3.32 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last quarter. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group during the second quarter worth about $422,000. QRG Capital Management Inc. raised its stake in shares of Public Service Enterprise Group by 28.0% in the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after acquiring an additional 15,505 shares during the last quarter. CWM LLC raised its stake in shares of Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares during the last quarter. Czech National Bank grew its stake in shares of Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after buying an additional 38,188 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

(Get Free Report)

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.

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