Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Rating of “Moderate Buy” from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $86.69.

A number of equities research analysts recently issued reports on PEG shares. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,783 shares of company stock worth $2,381,626. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently bought and sold shares of PEG. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in Public Service Enterprise Group during the second quarter worth approximately $71,298,000. FMR LLC increased its stake in 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 worth $481,825,000 after acquiring an additional 877,345 shares during the period. Hsbc Holdings PLC raised its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Public Service Enterprise Group by 79.5% during the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock valued at $134,006,000 after acquiring an additional 665,105 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $89.43 on Tuesday. The firm’s 50 day moving average price is $87.68 and its two-hundred day moving average price is $80.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The firm has a market cap of $44.56 billion, a P/E ratio of 21.97, a PEG ratio of 3.27 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, analysts forecast that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

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.