Barclays Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $71.00

Public Service Enterprise Group (NYSE:PEG) had its target price upped by Barclays from $68.00 to $71.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other analysts have also commented on PEG. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Bank of America boosted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a buy rating in a report on Friday, March 22nd. TheStreet raised Public Service Enterprise Group from a c+ rating to a b- rating in a report on Wednesday, March 6th. Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an outperform rating in a report on Thursday, March 7th. Finally, BMO Capital Markets cut their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a market perform rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of Moderate Buy and a consensus price target of $67.58.

Public Service Enterprise Group Stock Up 0.1 %

PEG stock opened at $65.10 on Monday. Public Service Enterprise Group has a 1-year low of $53.71 and a 1-year high of $67.51. The business has a fifty day moving average price of $63.69 and a 200-day moving average price of $61.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market capitalization of $32.46 billion, a P/E ratio of 12.69, a P/E/G ratio of 2.81 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group will post 3.66 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 Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.69%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,948 shares of company stock worth $510,300. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Modera Wealth Management LLC raised its position in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 170 shares during the period. IFP Advisors Inc grew its stake in shares of Public Service Enterprise Group by 14.2% during the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock valued at $89,000 after buying an additional 176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Public Service Enterprise Group by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after buying an additional 177 shares during the last quarter. Strategic Investment Advisors MI grew its stake in shares of Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after buying an additional 183 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.