Barclays Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Public Service Enterprise Group (NYSE:PEG) had its price target trimmed by Barclays from $98.00 to $88.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other research analysts also recently commented on the company. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. UBS Group upped their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. 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 report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Stock Up 0.6 %

NYSE:PEG opened at $84.29 on Tuesday. The stock has a fifty day simple moving average of $86.62 and a 200-day simple moving average of $79.03. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $41.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.78%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Analysts anticipate that Public Service Enterprise Group will post 3.66 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. 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 through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred 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 $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents 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 have sold 41,010 shares of company stock valued at $3,397,855. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at about $35,000. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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.