Public Service Enterprise Group (NYSE:PEG) Price Target Cut to $83.00 by Analysts at Barclays

Public Service Enterprise Group (NYSE:PEG) had its target price lowered by investment analysts at Barclays from $84.00 to $83.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential upside of 7.17% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.32 on Tuesday, hitting $77.45. 2,253,942 shares of the company’s stock were exchanged, compared to its average volume of 2,695,403. Public Service Enterprise Group has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a 50-day simple moving average of $82.24 and a 200-day simple moving average of $85.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $38.61 billion, a PE ratio of 19.06, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC increased its position in shares of Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $2,860,000. Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $2,565,000. Finally, Czech National Bank grew its holdings in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after purchasing an additional 6,545 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

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.