Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $100.00

Public Service Enterprise Group (NYSE:PEG) had its price objective raised by Wells Fargo & Company from $85.00 to $100.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the company. 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. Royal Bank of Canada raised 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. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.92.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $89.76 on Wednesday. The company has a market cap of $44.71 billion, a PE ratio of 27.20, a P/E/G ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a fifty day moving average price of $84.72 and a two-hundred day moving average price of $76.95. 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 (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.70 EPS. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. Research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group 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 transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter worth $36,000. Salomon & Ludwin LLC raised its position in shares of Public Service Enterprise Group by 1,866.7% during 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 period. Finally, PFS Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

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.