Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $83.00 at Barclays

Public Service Enterprise Group (NYSE:PEGFree Report) had its target price decreased by Barclays from $84.00 to $83.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Several other equities analysts have also issued reports on PEG. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $89.58.

Check Out Our Latest Stock Report on Public Service Enterprise Group

Public Service Enterprise Group Stock Up 0.6 %

Public Service Enterprise Group stock opened at $77.61 on Tuesday. The firm has a market capitalization of $38.69 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.78 and a beta of 0.52. The company’s 50 day simple moving average is $82.07 and its 200 day simple moving average is $85.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. 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:PEGGet Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.25%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in PEG. Foundations Investment Advisors LLC raised its stake in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the period. Cullen Investment Group LTD. raised its position in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the period. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group in the third quarter valued at about $2,860,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $2,565,000. Finally, Czech National Bank boosted its holdings in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after buying an additional 6,545 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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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.

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