Barclays Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its target price lowered by stock analysts at Barclays from $98.00 to $88.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective points to a potential upside of 7.49% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $81.87 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The business’s fifty day moving average price is $86.49 and its two-hundred day moving average price is $78.86. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The stock has a market capitalization of $40.78 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. As a group, analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on 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 approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,010 shares of company stock worth $3,397,855. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of the business. Raymond James & Associates lifted its position in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC raised its stake in shares of Public Service Enterprise Group by 7.2% in the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after purchasing an additional 162,731 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares in the last quarter. abrdn plc boosted its position in shares of Public Service Enterprise Group by 10.2% during the third quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock valued at $159,074,000 after buying an additional 165,995 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Public Service Enterprise Group by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after buying an additional 163,333 shares in the last quarter. Institutional investors and hedge funds 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.