Morgan Stanley Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $95.00

Public Service Enterprise Group (NYSE:PEG) had its target price hoisted by Morgan Stanley from $83.00 to $95.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research firms have also commented on PEG. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a hold rating to a strong-buy rating in a research note on Monday, August 5th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a market perform rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a hold rating and a $85.00 price objective on the stock. Scotiabank increased their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a sector perform rating in a research note on Tuesday, August 20th. Finally, Barclays increased their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of Moderate Buy and an average target price of $81.46.

Public Service Enterprise Group Trading Up 0.6 %

PEG opened at $88.24 on Monday. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $88.86. 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 firm has a market capitalization of $43.95 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.20 and a beta of 0.60. The company’s 50 day moving average price is $80.23 and its two-hundred day moving average price is $73.99.

Public Service Enterprise Group (NYSE:PEG) last posted 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). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.72%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,068 shares of company stock worth $2,406,965. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares during the period. Cohen & Steers Inc. raised its stake in Public Service Enterprise Group by 23.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after purchasing an additional 455,693 shares in the last quarter. Raymond James & Associates raised its stake in Public Service Enterprise Group by 315.2% in the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after purchasing an additional 163,333 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in Public Service Enterprise Group by 73.9% in the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after purchasing an additional 667,773 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

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.