Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $89.54.

PEG has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Evercore ISI lowered their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Finally, Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after acquiring an additional 365,666 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Public Service Enterprise Group by 2.3% during the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after acquiring an additional 162,261 shares during the period. Invesco Ltd. grew its stake in Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after acquiring an additional 604,978 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Public Service Enterprise Group by 6.1% in the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after buying an additional 335,135 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.11 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a 50 day moving average price of $80.34 and a 200-day moving average price of $82.42. Public Service Enterprise Group has a 52-week low of $72.82 and a 52-week high of $95.22. The firm has a market capitalization of $41.47 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.99 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

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.

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