Barclays Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $82.00

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective lowered by stock analysts at Barclays from $83.00 to $82.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's price objective suggests a potential downside of 0.17% from the stock's previous close.

PEG has been the subject of several other research reports. BMO Capital Markets cut their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Evercore ISI dropped their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Finally, UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $97.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $89.38.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.57 during mid-day trading on Thursday, reaching $82.14. 478,892 shares of the company's stock were exchanged, compared to its average volume of 2,767,890. The company has a market cap of $40.99 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.48. The stock's 50 day moving average is $80.49 and its 200 day moving average is $82.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. Public Service Enterprise Group has a 12-month low of $73.72 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 earnings per share. On average, research analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $12,251,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Public Service Enterprise Group by 11.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,870 shares of the utilities provider's stock valued at $17,140,000 after acquiring an additional 20,613 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Public Service Enterprise Group by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 65,543 shares of the utilities provider's stock valued at $5,538,000 after acquiring an additional 4,679 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in Public Service Enterprise Group by 2.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 10,951 shares of the utilities provider's stock valued at $925,000 after acquiring an additional 230 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Public Service Enterprise Group by 14.2% during the fourth quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider's stock valued at $847,000 after acquiring an additional 1,245 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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