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

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

PEG has been the topic of a number of other research reports. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Guggenheim cut their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company 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 target price for the company. in a research note on Wednesday, March 19th. Morgan Stanley cut their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Finally, Evercore ISI cut their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $89.38.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $0.63 during trading hours on Thursday, reaching $82.20. 1,791,843 shares of the company were exchanged, compared to its average volume of 2,774,241. The company has a market capitalization of $41.02 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.92 and a beta of 0.48. Public Service Enterprise Group has a 1-year low of $73.72 and a 1-year high of $95.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The business has a 50 day moving average of $80.57 and a 200 day moving average of $82.19.

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 business 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%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. Research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

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

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently modified their holdings of PEG. Proficio Capital Partners LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $12,251,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Public Service Enterprise Group by 11.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,870 shares of the utilities provider's stock worth $17,140,000 after purchasing an additional 20,613 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Public Service Enterprise Group by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,543 shares of the utilities provider's stock worth $5,538,000 after purchasing an additional 4,679 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in Public Service Enterprise Group by 2.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 10,951 shares of the utilities provider's stock worth $925,000 after purchasing an additional 230 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in Public Service Enterprise Group by 14.2% during the 4th quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider's stock worth $847,000 after purchasing an additional 1,245 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

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.