Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Has Average Price Target of $79.32 According to Brokerages

Key Points

• Analysts have a “Hold” consensus on Public Service Enterprise Group, with 11 of 18 rating it Hold and seven rating it Buy; the average 12-month price target is $79.32.
• Several brokerages recently lowered their price targets, including Barclays to $76 and BTIG Research to $84, while maintaining their respective Equal Weight and Buy ratings.
• The company missed quarterly expectations, reporting EPS of $1.15 versus $1.19 expected and revenue of $3.02 billion versus $3.19 billion; revenue fell 6.4% year over year.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have earned a consensus rating of "Hold" from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $79.32.

Several equities analysts have recently commented on PEG shares. Barclays lowered their price objective on shares of Public Service Enterprise Group from $83.00 to $76.00 and set an "equal weight" rating for the company in a research note on Monday, October 12th. LADENBURG THALM/SH SH dropped their price objective on shares of Public Service Enterprise Group from $80.50 to $75.50 and set a "neutral" rating for the company in a research note on Tuesday. Argus dropped their target price on Public Service Enterprise Group from $90.00 to $86.00 and set a "buy" rating on the stock in a report on Tuesday, September 29th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, BTIG Research cut their target price on Public Service Enterprise Group from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total transaction of $153,308.80. Following the transaction, the chief executive officer owned 276,487 shares in the company, valued at $20,349,443.20. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,166 shares of company stock valued at $890,350 over the last ninety days. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $4,366,570,000. State Street Corp increased its stake in shares of Public Service Enterprise Group by 1.4% in the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider's stock worth $2,392,713,000 after buying an additional 399,191 shares during the period. Bank of America Corp DE purchased a new position in Public Service Enterprise Group in the 2nd quarter worth about $1,207,400,000. Legal & General Group Plc purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $554,994,000. Finally, Amundi grew its stake in shares of Public Service Enterprise Group by 71.6% during the second quarter. Amundi now owns 3,962,317 shares of the utilities provider's stock worth $321,580,000 after acquiring an additional 1,653,832 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.8%

Shares of NYSE PEG opened at $72.52 on Friday. The company has a market capitalization of $36.14 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.55 and a beta of 0.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group has a 12-month low of $66.15 and a 12-month high of $87.63. The firm's 50-day moving average is $71.18 and its two-hundred day moving average is $77.90.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.04). Public Service Enterprise Group had a return on equity of 12.43% and a net margin of 14.31%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The company's revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state.

PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.

The company traces its roots to the Public Service Corporation of New Jersey, established in 1903, and serves customers primarily in New Jersey.

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