Public Service Enterprise Group (NYSE:PEG) PT Raised to $95.00

Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by Morgan Stanley from $83.00 to $95.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts have also weighed in on the company. Guggenheim raised Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a report on Monday, June 17th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a market perform rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a hold rating and a $85.00 price objective for the company. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a hold rating to a strong-buy rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of Moderate Buy and a consensus target price of $81.46.

Public Service Enterprise Group Stock Performance

PEG stock opened at $87.40 on Monday. The firm has a market cap of $43.53 billion, a PE ratio of 24.21, a P/E/G ratio of 3.20 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $80.49 and a 200-day moving average of $74.09. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $88.86.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.75%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Large investors have recently modified their holdings of the business. TD Asset Management Inc grew its stake in shares of Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after purchasing an additional 53,577 shares during the last quarter. QRG Capital Management Inc. boosted its position in Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares in the last quarter. CWM LLC boosted its position in Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares in the last quarter. Czech National Bank boosted its position in Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Public Service Enterprise Group by 145.5% during the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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.