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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $88.83.

A number of equities analysts have recently commented on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEG. Creative Planning increased its stake in shares of Public Service Enterprise Group by 5.2% in the third quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after buying an additional 4,710 shares during the period. Whittier Trust Co. increased its stake in shares of Public Service Enterprise Group by 9.3% in the third quarter. Whittier Trust Co. now owns 4,705 shares of the utilities provider’s stock worth $420,000 after buying an additional 402 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Public Service Enterprise Group by 14.5% in the third quarter. Foundations Investment Advisors LLC now owns 68,994 shares of the utilities provider’s stock worth $6,155,000 after buying an additional 8,745 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Public Service Enterprise Group by 3.0% in the third quarter. Sequoia Financial Advisors LLC now owns 19,846 shares of the utilities provider’s stock worth $1,770,000 after buying an additional 575 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Public Service Enterprise Group by 3.9% in the third quarter. Signaturefd LLC now owns 7,292 shares of the utilities provider’s stock worth $650,000 after buying an additional 273 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $84.25 on Thursday. The firm has a 50 day moving average of $84.95 and a 200-day moving average of $86.03. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a 12 month low of $59.29 and a 12 month high of $95.22. The firm has a market capitalization of $41.97 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 61.92%.

Public Service Enterprise Group Company Profile

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.