UBS Group Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $103.00

Key Points

• UBS Group raised the price target for Public Service Enterprise Group's stock from $97.00 to $103.00, indicating a potential upside of 18.38% from the previous close.
• Other brokerages, such as Morgan Stanley and Barclays, have recently adjusted their price targets for the stock, with an average rating of "Hold" from analysts.
• Public Service Enterprise Group reported $1.43 earnings per share for the last quarter, meeting consensus estimates, along with a revenue increase of 16.7% year-over-year.
• Insider trading activity shows CEO Ralph A. Larossa sold 1,387 shares of the company, resulting in a decrease in his stock ownership.

Public Service Enterprise Group (NYSE:PEG - Free Report) had its target price hoisted by UBS Group from $97.00 to $103.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the utilities provider's stock.

PEG has been the topic of several other reports. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the company a "market perform" rating in a research report on Tuesday. Guggenheim cut their price objective on shares of 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. Evercore ISI decreased their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Morgan Stanley cut their price target on shares of 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, Barclays cut their price target on shares of 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $90.50.

Public Service Enterprise Group Stock Up 0.8%

Shares of PEG stock traded up $0.73 during trading hours on Friday, hitting $87.66. 1,917,995 shares of the company were exchanged, compared to its average volume of 2,360,661. The business has a 50 day moving average of $81.79 and a two-hundred day moving average of $82.10. 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 52 week low of $74.20 and a 52 week high of $95.22. The company has a market capitalization of $43.74 billion, a PE ratio of 23.95, a PEG ratio of 3.14 and a beta of 0.48.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.87%. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEG. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the period. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $27,000. Finally, Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $32,000. 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.