Barclays Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $71.00

Public Service Enterprise Group (NYSE:PEG) had its price target boosted by Barclays from $68.00 to $71.00 in a research report released on Monday, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

PEG has been the topic of a number of other reports. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a market perform rating on the stock in a research note on Tuesday, February 27th. Evercore ISI raised their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. TheStreet upgraded Public Service Enterprise Group from a c+ rating to a b- rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley reiterated an overweight rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $67.58.

Public Service Enterprise Group Stock Up 1.2 %

Public Service Enterprise Group stock opened at $65.03 on Monday. The firm has a market cap of $32.42 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.85 and a beta of 0.58. The stock has a fifty day simple moving average of $63.55 and a two-hundred day simple moving average of $61.82. Public Service Enterprise Group has a 12 month low of $53.71 and a 12 month high of $67.51. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Equities analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. Public Service Enterprise Group’s payout ratio is 46.78%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $510,300 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the stock. Operose Advisors LLC grew its stake in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Addison Advisors LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $31,000. ICA Group Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $31,000. Clear Street Markets LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $31,000. Finally, CNB Bank acquired a new position in shares of Public Service Enterprise Group during the third quarter worth $34,000. 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.