Public Service Enterprise Group (NYSE:PEG) Given Buy Rating at Guggenheim

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They currently have a $98.00 target price on the utilities provider’s stock. Guggenheim’s target price would suggest a potential upside of 16.82% from the stock’s previous close.

PEG has been the topic of a number of other research reports. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Stock Up 0.8 %

NYSE PEG traded up $0.66 on Wednesday, hitting $83.89. 791,740 shares of the stock were exchanged, compared to its average volume of 2,272,640. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a fifty-two week low of $59.67 and a fifty-two week high of $95.22. The company has a 50-day moving average price of $84.91 and a 200-day moving average price of $86.05. The company has a market cap of $41.80 billion, a PE ratio of 20.67, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of large investors have recently bought and sold shares of the business. Ballentine Partners LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $238,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Public Service Enterprise Group by 2.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,503 shares of the utilities provider’s stock worth $7,003,000 after buying an additional 1,996 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Public Service Enterprise Group by 5.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 113,029 shares of the utilities provider’s stock valued at $9,964,000 after acquiring an additional 5,569 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares during the period. Finally, Integrated Advisors Network LLC grew its holdings in Public Service Enterprise Group by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 7,407 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 283 shares during the period. 73.34% of the stock is currently owned by institutional investors.

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.