Public Service Enterprise Group (NYSE:PEG) PT Raised to $95.00 at Evercore ISI

Public Service Enterprise Group (NYSE:PEG) had its target price hoisted by Evercore ISI from $92.00 to $95.00 in a research note released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the utilities provider’s stock.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a hold rating and a $85.00 price objective for the company. Guggenheim raised Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Barclays upped their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an overweight rating in a report on Monday. Finally, Scotiabank lifted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a sector perform rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $84.62.

Public Service Enterprise Group Stock Down 1.5 %

Shares of NYSE:PEG opened at $88.70 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market capitalization of $44.19 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. The firm has a fifty day moving average of $83.30 and a 200 day moving average of $75.91. Public Service Enterprise Group has a 52-week low of $56.85 and a 52-week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate 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 net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. As a group, research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s payout ratio is 72.73%.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,010 shares of company stock valued at $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Family Firm Inc. bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $36,000. Salomon & Ludwin LLC grew its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $41,000. 73.34% of the stock is owned by 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.