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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $90.9615.

A number of equities research analysts have weighed in on PEG shares. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a report on Wednesday, January 7th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. UBS Group cut their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. TD Cowen lifted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Barclays dropped their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd.

Public Service Enterprise Group Trading Up 1.4%

PEG traded up $1.19 during trading on Thursday, reaching $85.34. 528,258 shares of the stock traded hands, compared to its average volume of 3,054,020. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The stock’s 50-day moving average is $80.02 and its 200 day moving average is $82.06. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $91.25. The stock has a market capitalization of $42.60 billion, a PE ratio of 20.49, a P/E/G ratio of 2.69 and a beta of 0.59.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors have recently modified their holdings of PEG. Verbena Value LP acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $17,162,000. Bank of Montreal Can lifted its stake in shares of Public Service Enterprise Group by 8.0% in the fourth quarter. Bank of Montreal Can now owns 526,455 shares of the utilities provider’s stock valued at $42,274,000 after buying an additional 39,192 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Public Service Enterprise Group by 12.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 9,704 shares of the utilities provider’s stock valued at $779,000 after buying an additional 1,095 shares during the last quarter. denkapparat Operations GmbH raised its holdings in shares of Public Service Enterprise Group by 44.2% in the 4th quarter. denkapparat Operations GmbH now owns 13,128 shares of the utilities provider’s stock worth $1,054,000 after acquiring an additional 4,026 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in Public Service Enterprise Group by 16.3% in the 4th quarter. Alps Advisors Inc. now owns 26,973 shares of the utilities provider’s stock valued at $2,166,000 after acquiring an additional 3,780 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.