Analysts Set Public Service Enterprise Group Incorporated (NYSE:PEG) Price Target at $89.54

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) have received an average rating of "Moderate Buy" from the twelve analysts that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $89.54.

A number of analysts have recently issued reports on PEG shares. Evercore ISI dropped their price target on shares of 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. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. 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 report on Thursday, May 1st. Finally, Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd.

Public Service Enterprise Group Stock Up 0.8%

PEG stock traded up $0.68 during midday trading on Wednesday, hitting $83.71. The company's stock had a trading volume of 2,755,999 shares, compared to its average volume of 2,783,351. The firm's 50-day moving average is $80.34 and its 200-day moving average is $82.35. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group has a 12 month low of $73.11 and a 12 month high of $95.22. The company has a market cap of $41.77 billion, a PE ratio of 22.87, a P/E/G ratio of 2.99 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm 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 company's revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group's payout ratio is currently 68.85%.

Insider Activity at Public Service Enterprise Group

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

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Centre Asset Management LLC grew its position in shares of Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after purchasing an additional 121 shares in the last quarter. FourThought Financial Partners LLC lifted its holdings in Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after purchasing an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares during the period. Summit Financial LLC grew its holdings in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock valued at $507,000 after buying an additional 133 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after buying an additional 139 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

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.