Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Price Target at $86.92

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $87.15.

PEG has been the subject of several recent analyst reports. Royal Bank of Canada increased their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI increased their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Barclays increased their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th.

Public Service Enterprise Group Stock Down 0.3 %

NYSE:PEG opened at $90.49 on Friday. Public Service Enterprise Group has a 1 year low of $56.85 and a 1 year high of $92.20. The stock has a 50-day moving average price of $85.31 and a two-hundred day moving average price of $77.52. The stock has a market cap of $45.08 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.71 and a beta of 0.61. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in PEG. Old Port Advisors increased its stake in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares during the period. Great Lakes Retirement Inc. increased its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the period. Brighton Jones LLC increased its stake in shares of Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares during the period. Finally, Little House Capital LLC increased its stake in shares of Public Service Enterprise Group by 1.2% during the third quarter. Little House Capital LLC now owns 11,063 shares of the utilities provider’s stock worth $987,000 after purchasing an additional 134 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

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.