BMO Capital Markets Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $89.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by equities researchers at BMO Capital Markets from $86.00 to $89.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 1.44% from the stock’s current price.

Several other brokerages also recently commented on PEG. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $87.15.

Public Service Enterprise Group Stock Up 0.6 %

Public Service Enterprise Group stock traded up $0.54 during midday trading on Monday, hitting $90.30. 26,081 shares of the company were exchanged, compared to its average volume of 2,796,192. The company’s fifty day moving average price is $84.72 and its 200-day moving average price is $77.10. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a market cap of $44.98 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm 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%. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. On average, research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently made changes to their positions in the stock. Raymond James & Associates lifted its stake in Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Public Service Enterprise Group by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after acquiring an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after purchasing an additional 667,773 shares during the last quarter. Finally, Energy Income Partners LLC boosted its position in Public Service Enterprise Group by 14.2% during the first quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock worth $104,023,000 after purchasing an additional 193,736 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.