Public Service Enterprise Group (NYSE:PEG) PT Raised to $86.00 at BMO Capital Markets

Public Service Enterprise Group (NYSE:PEG) had its target price boosted by BMO Capital Markets from $78.00 to $86.00 in a research report report published on Friday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on PEG. Guggenheim upgraded Public Service Enterprise Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a report on Monday, June 17th. Evercore ISI raised their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an outperform rating in a report on Monday, July 15th. Bank of America upped their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating on the stock in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $75.17.

Public Service Enterprise Group Trading Down 0.7 %

Shares of PEG stock traded down $0.56 on Friday, hitting $78.27. The company had a trading volume of 1,023,581 shares, compared to its average volume of 2,851,356. The firm has a market cap of $38.99 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $81.89. The stock’s 50-day moving average is $74.72 and its two-hundred day moving average is $68.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.62 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently modified their holdings of the stock. National Bank of Canada FI raised its position in shares of Public Service Enterprise Group by 15.5% in the second quarter. National Bank of Canada FI now owns 170,209 shares of the utilities provider’s stock valued at $12,532,000 after buying an additional 22,891 shares during the last quarter. Meridian Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $247,000. TD Asset Management Inc lifted its stake in Public Service Enterprise Group by 16.1% in the second quarter. TD Asset Management Inc now owns 469,548 shares of the utilities provider’s stock valued at $34,606,000 after buying an additional 65,212 shares during the last quarter. Larson Financial Group LLC increased its position in Public Service Enterprise Group by 25,500.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,280 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 1,275 shares during the period. Finally, Foundations Investment Advisors LLC boosted its stake in Public Service Enterprise Group by 3.7% during the 2nd quarter. Foundations Investment Advisors LLC now owns 60,249 shares of the utilities provider’s stock valued at $4,440,000 after purchasing an additional 2,147 shares in the last quarter. Hedge funds and other 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.