Public Service Enterprise Group (NYSE:PEG) PT Raised to $80.00

Public Service Enterprise Group (NYSE:PEG) had its price objective upped by Barclays from $71.00 to $80.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

PEG has been the subject of several other reports. Guggenheim raised Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a report on Monday, June 17th. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Bank of America lifted their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a buy rating in a report on Thursday, June 6th. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $69.00 to $74.00 and gave the stock a market perform rating in a report on Wednesday, July 3rd. Finally, Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a buy rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $73.17.

Public Service Enterprise Group Stock Performance

PEG opened at $76.28 on Wednesday. The business has a fifty day simple moving average of $73.98 and a 200 day simple moving average of $66.72. The company has a market capitalization of $37.99 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 3.17 and a beta of 0.59. Public Service Enterprise Group has a 1 year low of $53.71 and a 1 year high of $77.46. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 earnings per share. Research analysts expect that Public Service Enterprise Group will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.15%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors have recently made changes to their positions in PEG. Addison Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $36,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $36,000. Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $37,000. Finally, Salomon & Ludwin LLC boosted its position in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares in the last quarter. 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.