Analysts Set Public Service Enterprise Group Inc. (PEG) PT at $56.83

Public Service Enterprise Group Inc. (NYSE:PEG) has received an average rating of “Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $56.83.

Several brokerages have recently commented on PEG. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a research note on Wednesday, October 10th. Goldman Sachs Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $55.00 to $53.00 in a research report on Thursday, July 19th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 21st. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Macquarie increased their price target on Public Service Enterprise Group from $55.50 to $57.00 and gave the company an “outperform” rating in a research report on Monday, September 24th.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,406 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $52.95, for a total value of $2,774,897.70. Following the completion of the sale, the chairman now directly owns 538,647 shares of the company’s stock, valued at $28,521,358.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek M. Dirisio sold 2,300 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. Insiders have sold 156,942 shares of company stock valued at $8,272,885 over the last ninety days. 0.58% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd boosted its stake in Public Service Enterprise Group by 24.4% during the first quarter. WINTON GROUP Ltd now owns 6,774 shares of the utilities provider’s stock valued at $340,000 after buying an additional 1,328 shares during the period. Principal Financial Group Inc. boosted its stake in Public Service Enterprise Group by 5.0% during the first quarter. Principal Financial Group Inc. now owns 827,689 shares of the utilities provider’s stock valued at $41,583,000 after buying an additional 39,250 shares during the period. Summit Trail Advisors LLC boosted its stake in Public Service Enterprise Group by 24.8% during the first quarter. Summit Trail Advisors LLC now owns 7,496 shares of the utilities provider’s stock valued at $225,000 after buying an additional 1,489 shares during the period. DnB Asset Management AS boosted its stake in Public Service Enterprise Group by 4.6% during the second quarter. DnB Asset Management AS now owns 77,433 shares of the utilities provider’s stock valued at $4,192,000 after buying an additional 3,400 shares during the period. Finally, Clinton Group Inc. bought a new stake in Public Service Enterprise Group during the second quarter valued at $247,000. 69.00% of the stock is owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group stock traded down $0.62 on Friday, hitting $52.38. The company had a trading volume of 666,821 shares, compared to its average volume of 3,470,047. The company has a market cap of $26.78 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. Public Service Enterprise Group has a 1 year low of $46.19 and a 1 year high of $56.68. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group will post 3.1 EPS for the current year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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