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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $65.38.

PEG has been the subject of several research reports. StockNews.com began coverage on shares of Public Service Enterprise Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barclays initiated coverage on Public Service Enterprise Group in a research report on Wednesday, August 23rd. They issued an “overweight” rating and a $64.00 price target on the stock. The Goldman Sachs Group started coverage on Public Service Enterprise Group in a research report on Wednesday, June 7th. They set a “neutral” rating and a $64.00 price objective for the company. UBS Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $66.00 in a report on Monday, August 14th. Finally, Mizuho increased their target price on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 8,074 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total value of $520,369.30. Following the transaction, the chief executive officer now directly owns 115,306 shares in the company, valued at approximately $7,431,471.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 4,168 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $63.01, for a total transaction of $262,625.68. Following the completion of the sale, the chief executive officer now directly owns 122,572 shares of the company’s stock, valued at $7,723,261.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 8,074 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total transaction of $520,369.30. Following the completion of the transaction, the chief executive officer now owns 115,306 shares in the company, valued at $7,431,471.70. The disclosure for this sale can be found here. Insiders have sold a total of 12,442 shares of company stock worth $795,147 over the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of PEG. ST Germain D J Co. Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $421,000. Virginia Retirement Systems ET AL bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $23,566,000. Asset Dedication LLC grew its position in shares of Public Service Enterprise Group by 8.6% during the second quarter. Asset Dedication LLC now owns 25,231 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 1,996 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Public Service Enterprise Group by 277.2% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 28,682 shares of the utilities provider’s stock valued at $1,796,000 after purchasing an additional 21,079 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $360,000. 72.28% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $60.89 on Thursday. The company has a 50-day simple moving average of $61.76 and a two-hundred day simple moving average of $61.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a market capitalization of $30.39 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 3.20 and a beta of 0.58. Public Service Enterprise Group has a one year low of $52.51 and a one year high of $68.31.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Public Service Enterprise Group had a return on equity of 12.64% and a net margin of 23.99%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts anticipate that Public Service Enterprise Group will post 3.45 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is presently 41.01%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.