Public Service Enterprise Group Incorporated (NYSE:PEG) Given Consensus Rating of "Buy" by Brokerages

Last updated on Saturday, July 31, 2021 | 2021 MarketBeat

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus rating of "Buy" from the ten research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $66.39.

A number of research analysts have issued reports on the company. Barclays boosted their target price on Public Service Enterprise Group from $62.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 25th. KeyCorp boosted their target price on Public Service Enterprise Group from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, April 14th. Mizuho raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $56.00 to $67.50 in a research note on Thursday, April 29th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $64.00 to $71.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, Seaport Res Ptn raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating in a research report on Monday, May 24th.

Shares of Public Service Enterprise Group stock opened at $62.23 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.94. Public Service Enterprise Group has a 12 month low of $50.32 and a 12 month high of $64.30. The business's fifty day moving average is $61.04. The firm has a market capitalization of $31.46 billion, a PE ratio of 14.96, a PEG ratio of 4.93 and a beta of 0.54.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group will post 3.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 8th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.28%. Public Service Enterprise Group's dividend payout ratio is currently 59.48%.

In related news, COO Ralph A. Larossa sold 4,890 shares of the company's stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $63.87, for a total transaction of $312,324.30. Also, EVP Tamara Louise Linde sold 29,500 shares of the company's stock in a transaction dated Monday, June 14th. The stock was sold at an average price of $61.71, for a total value of $1,820,445.00. The disclosure for this sale can be found here. Insiders have sold 40,080 shares of company stock worth $2,485,154 in the last quarter. 0.52% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Public Service Enterprise Group by 1.1% in the first quarter. BlackRock Inc. now owns 51,569,927 shares of the utilities provider's stock valued at $3,105,026,000 after buying an additional 554,884 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Public Service Enterprise Group by 15.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,192,545 shares of the utilities provider's stock valued at $1,817,893,000 after buying an additional 4,055,897 shares during the period. JPMorgan Chase & Co. raised its stake in Public Service Enterprise Group by 3.7% in the first quarter. JPMorgan Chase & Co. now owns 8,952,158 shares of the utilities provider's stock valued at $539,010,000 after buying an additional 320,065 shares during the period. Geode Capital Management LLC raised its stake in Public Service Enterprise Group by 2.8% in the first quarter. Geode Capital Management LLC now owns 8,756,575 shares of the utilities provider's stock valued at $525,844,000 after buying an additional 236,588 shares during the period. Finally, Franklin Resources Inc. raised its stake in Public Service Enterprise Group by 99.4% in the first quarter. Franklin Resources Inc. now owns 4,390,981 shares of the utilities provider's stock valued at $264,381,000 after buying an additional 2,188,676 shares during the period. Hedge funds and other institutional investors own 69.93% of the company's stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

Featured Story: What is the Difference Between Common Shares and Convertible Shares?

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Public Service Enterprise Group right now?

Before you consider Public Service Enterprise Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Service Enterprise Group wasn't on the list.

While Public Service Enterprise Group currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.