Analysts Set Public Service Enterprise Group Incorporated (NYSE:PEG) PT at $89.83

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $89.27.

Several analysts have recently weighed in on PEG shares. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday. Finally, Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $83.21 on Monday. The firm’s fifty day moving average price is $83.57 and its 200-day moving average price is $86.02. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $41.48 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a fifty-two week low of $63.54 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. On average, equities research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock valued at $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock valued at $1,027,725,000 after purchasing an additional 365,666 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock valued at $551,323,000 after purchasing an additional 604,978 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider’s stock valued at $490,644,000 after purchasing an additional 335,135 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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.