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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $71.67.

Several research firms recently commented on PEG. Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Bank of America increased their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Scotiabank lowered their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, 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.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $73.01 on Friday. The company’s fifty day moving average is $71.83 and its two-hundred day moving average is $65.39. The company has a market cap of $36.36 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. Equities analysts expect that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 2,948 shares of company stock worth $199,910. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Evergreen Wealth Solutions LLC boosted its stake in Public Service Enterprise Group by 1.7% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after purchasing an additional 159 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after buying an additional 170 shares during the last quarter. Strategic Investment Advisors MI boosted its position in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares during the period. PDS Planning Inc grew its stake in shares of Public Service Enterprise Group by 4.2% in the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 181 shares during the last quarter. Finally, Lido Advisors LLC increased its position in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 183 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

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.