Public Service Enterprise Group (NYSE:PEG) Given New $88.00 Price Target at Barclays

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by equities researchers at Barclays from $98.00 to $88.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential upside of 7.49% from the company’s current price.

A number of other research analysts also recently commented on PEG. Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Bank of America boosted their target price on shares of 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. Finally, Scotiabank raised their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $81.87 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61. The company has a 50 day simple moving average of $86.49 and a 200-day simple moving average of $78.86. Public Service Enterprise Group has a 52-week low of $56.85 and a 52-week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Public Service Enterprise Group will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after acquiring an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT bought a new position in Public Service Enterprise Group in the second quarter worth $71,298,000. Hsbc Holdings PLC boosted its stake in Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 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.