Public Service Enterprise Group (NYSE:PEG) PT Raised to $98.00

Public Service Enterprise Group (NYSE:PEG) had its target price upped by research analysts at UBS Group from $94.00 to $98.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price would indicate a potential upside of 10.72% from the company’s current price.

Several other research analysts have also recently issued reports on PEG. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Public Service Enterprise Group Stock Up 0.4 %

PEG traded up $0.35 during trading on Wednesday, hitting $88.51. The stock had a trading volume of 76,224 shares, compared to its average volume of 2,769,789. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The stock has a 50 day simple moving average of $86.04 and a two-hundred day simple moving average of $78.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The company has a market capitalization of $44.09 billion, a PE ratio of 26.82, a PEG ratio of 2.73 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, research analysts predict that Public Service Enterprise Group will post 3.66 earnings per share for the current year.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 in the last 90 days. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently made changes to their positions in PEG. Asset Management One Co. Ltd. grew its position in Public Service Enterprise Group by 8.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 312,672 shares of the utilities provider’s stock valued at $27,893,000 after purchasing an additional 23,347 shares during the period. National Pension Service raised its stake in shares of Public Service Enterprise Group by 8.6% in the third quarter. National Pension Service now owns 673,031 shares of the utilities provider’s stock valued at $60,041,000 after buying an additional 53,432 shares during the period. Intact Investment Management Inc. increased its holdings in Public Service Enterprise Group by 10.4% in the 3rd quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider’s stock worth $7,181,000 after acquiring an additional 7,600 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Public Service Enterprise Group by 1.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 123,964 shares of the utilities provider’s stock valued at $11,059,000 after buying an additional 2,128 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Public Service Enterprise Group by 22.4% during the third quarter. Van ECK Associates Corp now owns 466,761 shares of the utilities provider’s stock valued at $42,349,000 after acquiring an additional 85,464 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.