Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) PT at $89.17

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com 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 1 year target price among analysts that have issued ratings on the stock in the last year is $89.17.

A number of analysts have commented on PEG shares. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $85.40 on Wednesday. The business’s fifty day moving average is $87.65 and its 200 day moving average is $83.82. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $42.55 billion, a P/E ratio of 20.98, a P/E/G ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share 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 analyst estimates 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 period last year, the firm earned $0.85 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.81%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction 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 represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds have recently made changes to their positions in the stock. Innova Wealth Partners purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $304,000. Fortem Financial Group LLC grew its stake in Public Service Enterprise Group by 2.0% during the fourth quarter. Fortem Financial Group LLC now owns 8,392 shares of the utilities provider’s stock valued at $709,000 after acquiring an additional 164 shares in the last quarter. Pensionfund Sabic increased its holdings in Public Service Enterprise Group by 26.3% during the 4th quarter. Pensionfund Sabic now owns 19,200 shares of the utilities provider’s stock worth $1,622,000 after acquiring an additional 4,000 shares during the period. Centre Asset Management LLC lifted its stake in Public Service Enterprise Group by 7.4% in the 4th quarter. Centre Asset Management LLC now owns 3,812 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 264 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Public Service Enterprise Group by 14.8% in the 4th quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 881 shares during the period. 73.34% of the stock is currently owned by hedge funds and other 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.