Public Service Enterprise Group (NYSE:PEG) Given Buy Rating at Guggenheim

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research note issued on Wednesday,Benzinga reports. They currently have a $98.00 price target on the utilities provider’s stock. Guggenheim’s price objective suggests a potential upside of 21.35% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $80.76 on Wednesday. The company has a market cap of $40.24 billion, a P/E ratio of 19.84, a PEG ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group has a one year low of $61.36 and a one year high of $95.22. The business’s 50-day simple moving average is $84.86 and its 200 day simple moving average is $85.99.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC boosted its position in Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the period. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter valued at approximately $8,244,000. Cullen Investment Group LTD. boosted its position in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group during the 3rd quarter valued at approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $2,565,000. Institutional investors and hedge funds 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.