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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $90.9615.

Several research firms recently issued reports on PEG. Wells Fargo & Company upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $88.00 to $92.00 in a report on Tuesday, January 20th. TD Cowen boosted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, Barclays lowered their target price on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC raised its stake in Public Service Enterprise Group by 218.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 15,496 shares of the utilities provider’s stock valued at $1,244,000 after acquiring an additional 10,631 shares during the period. Community Bank N.A. boosted its position in Public Service Enterprise Group by 1.1% during the fourth quarter. Community Bank N.A. now owns 61,817 shares of the utilities provider’s stock worth $4,964,000 after purchasing an additional 679 shares during the period. World Investment Advisors increased its holdings in shares of Public Service Enterprise Group by 36.5% in the fourth quarter. World Investment Advisors now owns 82,943 shares of the utilities provider’s stock valued at $6,660,000 after purchasing an additional 22,193 shares during the last quarter. Valley Wealth Managers Inc. raised its position in shares of Public Service Enterprise Group by 9.2% in the fourth quarter. Valley Wealth Managers Inc. now owns 55,885 shares of the utilities provider’s stock valued at $4,488,000 after purchasing an additional 4,698 shares during the period. Finally, Meridian Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 4.6% during the 4th quarter. Meridian Wealth Management LLC now owns 36,249 shares of the utilities provider’s stock worth $2,911,000 after buying an additional 1,603 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $80.13 on Thursday. The firm’s 50 day moving average is $80.03 and its 200-day moving average is $82.22. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $40.00 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.