UBS Group Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $94.00

Public Service Enterprise Group (NYSE:PEG) had its price objective increased by UBS Group from $87.00 to $94.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other research firms have also weighed in on PEG. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a hold rating and a $85.00 target price on the stock. Scotiabank raised their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a sector perform rating in a research report on Tuesday, August 20th. Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Morgan Stanley raised their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an overweight rating in a research report on Monday. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a hold rating to a strong-buy rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $81.46.

Public Service Enterprise Group Trading Down 1.0 %

Shares of PEG opened at $87.40 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $88.86. The firm has a market capitalization of $43.53 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. The stock’s fifty day simple moving average is $80.49 and its 200-day simple moving average is $74.09.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction 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 approximately $12,014,095.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock worth $2,406,965 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its holdings in Public Service Enterprise Group by 16.6% in the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after acquiring an additional 53,577 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares in the last quarter. CWM LLC raised its holdings in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank raised its holdings in Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares in the last quarter. 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.