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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average rating of “Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $51.19.

A number of brokerages have commented on PEG. Bank of America assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price objective on the stock. Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $46.75 to $50.00 in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, October 10th. Barclays upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.00 to $51.00 in a report on Friday, September 22nd. Finally, Jefferies Group restated a “hold” rating and issued a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday, October 12th.

Shares of Public Service Enterprise Group (PEG) opened at $49.66 on Monday. Public Service Enterprise Group has a 52-week low of $41.67 and a 52-week high of $53.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. The company has a market cap of $25,129.89, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 6.06 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. equities research analysts anticipate that Public Service Enterprise Group will post 2.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio is currently 166.99%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 33,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 81,241 shares in the company, valued at approximately $4,071,798.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,185 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $51.50, for a total transaction of $112,527.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,951 shares of company stock valued at $13,143,997. 0.61% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in PEG. Grove Bank & Trust raised its position in Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,539 shares during the last quarter. Vantage Investment Advisors LLC raised its position in Public Service Enterprise Group by 35.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after buying an additional 700 shares during the last quarter. IHT Wealth Management LLC raised its position in Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after buying an additional 202 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in Public Service Enterprise Group by 13.8% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock worth $149,000 after buying an additional 424 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $185,000. Institutional investors own 66.67% 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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