Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $88.00 at Barclays

Public Service Enterprise Group (NYSE:PEG) had its target price trimmed by Barclays from $98.00 to $88.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Trading Up 0.6 %

Shares of NYSE:PEG opened at $84.29 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $92.20. The business has a 50 day moving average of $86.62 and a two-hundred day moving average of $79.03. The company has a market capitalization of $41.99 billion, a PE ratio of 20.71, a PEG ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.78%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, analysts forecast that Public Service Enterprise Group will post 3.66 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,010 shares of company stock valued at $3,397,855. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently made changes to their positions in PEG. Heritage Wealth Management Inc. purchased a new position in Public Service Enterprise Group in the second quarter worth approximately $422,000. QRG Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after purchasing an additional 15,505 shares during the period. CWM LLC grew its holdings in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares during the period. Czech National Bank increased its position in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after purchasing an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after buying an additional 38,188 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.