Public Service Enterprise Group (NYSE:PEG) Given New $100.00 Price Target at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its target price upped by Morgan Stanley from $96.00 to $100.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts have also recently weighed in on PEG. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.32 on Thursday. 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 50-day simple moving average of $83.53 and a two-hundred day simple moving average of $86.01. The firm has a market capitalization of $41.54 billion, a PE ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a 52-week low of $63.68 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in PEG. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. REAP Financial Group LLC boosted its stake in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the period. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $39,000. 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.