Public Service Enterprise Group (NYSE:PEG) Now covered by Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG – Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The firm set a “hold” rating and a $85.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 1.00% from the company’s previous close.

A number of other equities research analysts have also recently commented on PEG. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Morgan Stanley boosted their price target on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $77.92, according to MarketBeat.com.

Read our latest analysis of Public Service Enterprise Group

Public service enterprise group trading up 1.0%

Shares of Public Service Enterprise Group stock opened at $84.16 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46, and a current ratio of 0.65. Public Service Enterprise Group has a 52-week low of $53.71 and a 52-week high of $84.18. The stock has a 50 day moving average price of $78.81 and a two hundred day moving average price of $72.84. The stock has a market cap of $41.93 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS 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 firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted EPS of $0.70. The company’s revenue rose 0.1% year-over-year. As a group, equities analysts anticipate that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Insiders place their bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 over the last ninety days. 0.57% of shares are currently owned by insiders.

Hedge funds influence the Public Service Enterprise Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Brighton Jones LLC boosted its stake in Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 0.5% during the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Public Service Enterprise Group by 4.1% during the second quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 153 shares during the last quarter. Evergreen Wealth Solutions LLC boosted its stake in Public Service Enterprise Group by 1.7% in the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after buying an additional 159 shares during the last quarter. Finally, Kowal Investment Group LLC boosted its stake in shares of Public Service Enterprise Group by 2.7% in the second quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock valued at $441,000 after acquiring an additional 160 shares in the last quarter. 73.34% of the shares are currently held by hedge funds and other institutional investors.

Public Service Enterprise Group Company Profile

(Get a free report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates electric and gas utility businesses in the United States. It operates through the 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 service and repair to customers through its service territory, as well as investments in solar generation projects, energy efficiency and related programs.

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