Public Service Enterprise Group (NYSE:PEG) Given New $98.00 Price Target at UBS Group

Public Service Enterprise Group (NYSE:PEG) had its price target lifted by UBS Group from $94.00 to $98.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

A number of other analysts also recently issued reports on PEG. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Barclays lifted their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.46.

Public Service Enterprise Group Stock Down 2.3 %

Shares of PEG opened at $87.31 on Wednesday. The company has a market cap of $43.49 billion, a PE ratio of 26.46, a P/E/G ratio of 2.94 and a beta of 0.61. The business has a fifty day moving average of $86.48 and a 200 day moving average of $78.65. Public Service Enterprise Group has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 over the last three months. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently added to or reduced their stakes in the company. Wealth Quarterback LLC raised its holdings in Public Service Enterprise Group by 36.5% in the third quarter. Wealth Quarterback LLC now owns 10,807 shares of the utilities provider’s stock worth $964,000 after purchasing an additional 2,891 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Public Service Enterprise Group by 0.8% during the third quarter. Assetmark Inc. now owns 836,785 shares of the utilities provider’s stock valued at $74,650,000 after acquiring an additional 6,314 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $222,000. TFB Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $214,000. Finally, Consolidated Planning Corp acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $396,000. 73.34% of the stock is currently owned by institutional investors.

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.