Public Service Enterprise Group Incorporated (NYSE:PEG) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Public Service Enterprise Group (NYSE:PEG) received a consensus rating of "Moderate Buy" from eleven analysts, with an average price target of approximately $90.95.
• CEO Ralph A. Larossa sold 1,387 shares of the company at an average price of $83.12, reducing his ownership by 0.63%.
• The company reported earnings of $0.77 per share for the last quarter, exceeding estimates and demonstrating a 15.8% year-over-year revenue growth.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $90.9545.

A number of equities research analysts have weighed in on PEG shares. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets raised their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Institutional Trading of Public Service Enterprise Group

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $564,238,000. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares during the period. Invesco Ltd. increased its holdings in Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider's stock valued at $544,973,000 after purchasing an additional 1,408,707 shares during the period. Nuveen LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $95,076,000. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $68,317,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Down 0.2%

Shares of PEG stock opened at $87.64 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a market capitalization of $43.74 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.06 and a beta of 0.45. The business's fifty day moving average is $83.98 and its 200 day moving average is $82.23.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm's revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. Public Service Enterprise Group's payout ratio is currently 63.64%.

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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