UBS Group Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $98.00

Public Service Enterprise Group (NYSE:PEG) had its price objective upped by stock analysts at UBS Group from $94.00 to $98.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price target points to a potential upside of 10.72% from the company’s previous close.

Several other brokerages also recently weighed in on PEG. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays raised their target price on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Public Service Enterprise Group Trading Up 0.4 %

NYSE:PEG traded up $0.35 during mid-day trading on Wednesday, reaching $88.51. 76,224 shares of the company’s stock traded hands, compared to its average volume of 2,769,789. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $92.20. 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 company has a 50 day moving average price of $86.04 and a 200-day moving average price of $78.25. The firm has a market capitalization of $44.09 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.73 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.03 billion. During the same period in the previous year, the business earned $0.70 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,010 shares of company stock valued at $3,397,855 in the last quarter. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $35,000. Salomon & Ludwin LLC lifted its stake in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $48,000. Finally, Country Trust Bank bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. 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.