Public Service Enterprise Group Inc. (PEG) Receives $56.83 Consensus PT from Analysts

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) have been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.83.

Several equities analysts recently weighed in on PEG shares. Argus raised their target price on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Morgan Stanley set a $59.00 target price on shares of Public Service Enterprise Group and gave the company a “buy” rating in a research note on Thursday, October 11th. Deutsche Bank decreased their target price on shares of Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Finally, Citigroup raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 9th.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,406 shares of Public Service Enterprise Group stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $52.95, for a total transaction of $2,774,897.70. Following the completion of the transaction, 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 SEC, which is available at the SEC website. Also, insider Derek M. Dirisio sold 2,300 shares of Public Service Enterprise Group stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total transaction of $121,946.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,942 shares of company stock valued at $8,272,885. Company insiders own 0.58% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. American Research & Management Co. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $108,000. NuWave Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $118,000. Psagot Investment House Ltd. acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $129,000. Squar Milner Financial Services LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $149,000. Finally, Cordasco Financial Network lifted its holdings in shares of Public Service Enterprise Group by 63.1% during the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,100 shares in the last quarter. 69.00% of the stock is owned by institutional investors.

Shares of PEG traded up $0.81 during mid-day trading on Friday, hitting $53.78. 389,783 shares of the company’s stock were exchanged, compared to its average volume of 3,427,498. The stock has a market capitalization of $26.79 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.54 and a beta of 0.28. Public Service Enterprise Group has a 52 week low of $46.19 and a 52 week 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 released its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Public Service Enterprise Group had a net margin of 23.54% and a return on equity of 11.24%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that Public Service Enterprise Group will post 3.1 earnings per share for the current fiscal year.

About Public Service Enterprise Group

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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