Public Service Enterprise Group Incorporated (NYSE:PEG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $89.63.

Several equities research analysts have issued reports on PEG shares. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Evercore ISI dropped their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEG. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $445,005,000. Raymond James Financial Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $376,209,000. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after buying an additional 2,986,646 shares during the period. Jennison Associates LLC increased its stake in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $80.19 on Friday. The firm has a 50 day moving average of $80.20 and a 200-day moving average of $83.41. 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 firm has a market capitalization of $40.01 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business earned $1.31 earnings per share. Public Service Enterprise Group’s revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.14%. Public Service Enterprise Group’s payout ratio is 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.