UBS Group Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $94.00

Public Service Enterprise Group (NYSE:PEG) had its price objective raised by UBS Group from $87.00 to $94.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other research analysts have also issued reports about the company. BMO Capital Markets upped their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a market perform rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an overweight rating in a research note on Monday. Barclays upped 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. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an outperform rating in a research note on Monday, July 15th. Finally, Bank of America upped their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a buy rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $81.46.

Public Service Enterprise Group Stock Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $87.40 on Tuesday. The firm has a market cap of $43.53 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.20 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group has a 52-week low of $53.71 and a 52-week high of $88.86. The stock has a 50-day simple moving average of $80.49 and a 200-day simple moving average of $74.09.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 over the last three months. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several large investors have recently made changes to their positions in the business. Anchor Investment Management LLC grew its holdings in shares of Public Service Enterprise Group by 127.9% during the second quarter. Anchor Investment Management LLC now owns 1,390 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 780 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $422,000. Sanctuary Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $6,675,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $101,000. Finally, Cetera Investment Advisers grew its holdings in shares of Public Service Enterprise Group by 4.0% during the second quarter. Cetera Investment Advisers now owns 125,717 shares of the utilities provider’s stock worth $9,265,000 after purchasing an additional 4,837 shares during the last quarter. 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.