Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $88.81.

A number of analysts have commented on PEG shares. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. StockNews.com lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Guggenheim dropped their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, May 1st.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in Public Service Enterprise Group during the first quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. raised its holdings in Public Service Enterprise Group by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock worth $251,979,000 after purchasing an additional 31,631 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in Public Service Enterprise Group in the first quarter worth about $12,335,000. Citizens Financial Group Inc. RI lifted its stake in shares of Public Service Enterprise Group by 15.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,381 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 447 shares during the period. Finally, WealthShield Partners LLC lifted its position in Public Service Enterprise Group by 9.2% during the first quarter. WealthShield Partners LLC now owns 26,700 shares of the utilities provider’s stock valued at $2,197,000 after buying an additional 2,242 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $78.92 on Tuesday. The stock has a 50-day moving average price of $80.97 and a two-hundred day moving average price of $84.50. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a 12 month low of $71.89 and a 12 month high of $95.22. The company has a market capitalization of $39.38 billion, a PE ratio of 19.39, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 EPS. Analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s payout ratio is presently 68.85%.

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.