Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $100.00

Public Service Enterprise Group (NYSE:PEG) had its price objective upped by Morgan Stanley from $96.00 to $100.00 in a research report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Stock Performance

PEG opened at $83.00 on Thursday. The firm has a market cap of $41.38 billion, a PE ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $83.50 and a 200-day simple moving average of $86.06. Public Service Enterprise Group has a fifty-two week low of $64.03 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $25,000. REAP Financial Group LLC lifted its position in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $39,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

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.