BMO Capital Markets Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $86.00

Public Service Enterprise Group (NYSE:PEG) had its price objective lifted by BMO Capital Markets from $78.00 to $86.00 in a report published on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an outperform rating in a research report on Monday, July 15th. Bank of America raised their target price on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a buy rating in a research note on Thursday, June 6th. Barclays increased their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $75.17.

Public Service Enterprise Group Price Performance

NYSE PEG traded down $0.56 on Friday, reaching $78.27. 1,023,581 shares of the stock traded hands, compared to its average volume of 2,851,356. The firm’s fifty day simple moving average is $74.72 and its 200 day simple moving average is $68.37. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group has a 12 month low of $53.71 and a 12 month high of $81.89. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. As a group, research analysts predict that Public Service Enterprise Group will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in Public Service Enterprise Group in the second quarter worth about $33,000. Addison Advisors LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at $31,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the second quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the first quarter worth $36,000. Finally, Salomon & Ludwin LLC raised its holdings in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the period. Institutional investors own 73.34% of the company’s stock.

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.