Public Service Enterprise Group Incorporated (PEG) Receives Average Rating of “Buy” from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $50.63.

PEG has been the topic of several research analyst reports. BidaskClub raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, September 14th. Barclays raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd. Finally, Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $46.75 to $50.00 in a report on Monday, September 25th.

Shares of Public Service Enterprise Group (NYSE PEG) opened at $52.18 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. Public Service Enterprise Group has a 12-month low of $41.67 and a 12-month high of $53.28. The stock has a market cap of $26,319.58, a P/E ratio of 17.93, a P/E/G ratio of 6.50 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Public Service Enterprise Group’s revenue was down 7.6% on a year-over-year basis. analysts anticipate that Public Service Enterprise Group will post 2.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.43 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.72 annualized dividend and a yield of 3.30%. Public Service Enterprise Group’s payout ratio is 166.99%.

In other news, COO Ralph A. Larossa sold 33,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the sale, the chief operating officer now owns 81,241 shares in the company, valued at $4,071,798.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the sale, the chairman now owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Insiders sold 263,951 shares of company stock worth $13,045,041 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 2.4% during the second quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock valued at $1,542,792,000 after purchasing an additional 828,458 shares during the period. Nordea Investment Management AB raised its stake in shares of Public Service Enterprise Group by 1.8% during the third quarter. Nordea Investment Management AB now owns 11,274,720 shares of the utilities provider’s stock valued at $521,456,000 after purchasing an additional 199,441 shares during the period. Federated Investors Inc. PA raised its stake in shares of Public Service Enterprise Group by 179.9% during the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock valued at $288,677,000 after purchasing an additional 4,314,015 shares during the period. Legal & General Group Plc raised its stake in shares of Public Service Enterprise Group by 2.2% during the third quarter. Legal & General Group Plc now owns 3,211,024 shares of the utilities provider’s stock valued at $148,510,000 after purchasing an additional 70,089 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Public Service Enterprise Group by 16.3% during the third quarter. Wells Fargo & Company MN now owns 2,681,594 shares of the utilities provider’s stock valued at $124,024,000 after purchasing an additional 376,379 shares during the period. Institutional investors own 66.77% of the company’s stock.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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