Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus rating of “Buy” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $48.50.

A number of equities research analysts recently commented on PEG shares. Morgan Stanley lifted their target price on Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 target price (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, August 1st. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.50 to $50.00 in a report on Friday, August 11th.

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Public Service Enterprise Group (NYSE:PEG) traded up 0.89% during trading on Tuesday, reaching $46.45. 2,043,219 shares of the company’s stock traded hands. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of 52.19 and a beta of 0.39. The company has a 50 day moving average of $45.89 and a 200 day moving average of $44.60. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter last year, the company earned $0.57 earnings per share. Equities research analysts predict that Public Service Enterprise Group will post $2.92 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is presently 193.26%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chairman now directly owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders sold 54,900 shares of company stock valued at $2,413,947 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. IHT Wealth Management LLC lifted its holdings in Public Service Enterprise Group by 45.9% in the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 202 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 381 shares during the period. Parallel Advisors LLC lifted its holdings in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 20 shares during the period. Hudock Capital Group LLC increased its position in shares of Public Service Enterprise Group by 38.8% in the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock valued at $113,000 after buying an additional 735 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after buying an additional 99 shares in the last quarter. 65.97% of the stock is owned by institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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