Public Service Enterprise Group (NYSE:PEG) Given New $82.00 Price Target at Barclays

Public Service Enterprise Group (NYSE:PEG - Free Report) had its price objective decreased by Barclays from $83.00 to $82.00 in a research note published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider's stock.

A number of other research analysts also recently commented on PEG. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. UBS Group raised shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $97.00 in a research note on Monday. Finally, BMO Capital Markets decreased their price objective on shares of 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Hold" and a consensus price target of $89.38.

Public Service Enterprise Group Stock Up 0.4%

Shares of PEG stock traded up $0.36 during trading hours on Thursday, hitting $82.52. 1,870,718 shares of the company's stock traded hands, compared to its average volume of 2,770,642. The stock's fifty day simple moving average is $80.57 and its two-hundred day simple moving average is $82.19. Public Service Enterprise Group has a 12-month low of $73.72 and a 12-month high of $95.22. The stock has a market cap of $41.18 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.92 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Transce3nd LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. REAP Financial Group LLC raised its holdings in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $32,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $33,000. 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.