Barclays Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $83.00

Public Service Enterprise Group (NYSE:PEG) had its price target lowered by analysts at Barclays from $84.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 7.17% from the company’s current price.

PEG has been the topic of a number of other research reports. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. BMO Capital Markets raised their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.58.

Public Service Enterprise Group Trading Up 0.4 %

Shares of NYSE:PEG traded up $0.32 during midday trading on Tuesday, hitting $77.45. 2,253,942 shares of the stock traded hands, compared to its average volume of 2,695,403. 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 business’s 50 day moving average is $82.24 and its two-hundred day moving average is $85.99. The stock has a market capitalization of $38.61 billion, a PE ratio of 19.06, a P/E/G ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group has a one year low of $64.03 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $0.54 EPS. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of PEG. Transce3nd LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $25,000. REAP Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. Finally, OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $39,000. Institutional investors 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.