Public Service Enterprise Group Inc. (NYSE:PEG) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $47.00 price target on the stock, up from their prior price target of $46.00. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 14.91% from the company’s current price.

A number of other brokerages have also recently commented on PEG. Zacks Investment Research cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Barclays PLC boosted their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, September 22nd. Argus dropped their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Finally, Morgan Stanley upgraded shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $43.00 to $47.00 in a report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.78.

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

Shares of Public Service Enterprise Group (NYSE:PEG) opened at 40.90 on Monday. The stock has a market cap of $20.69 billion, a P/E ratio of 14.77 and a beta of 0.25. The company’s 50-day moving average is $42.08 and its 200-day moving average is $44.49. Public Service Enterprise Group has a 12-month low of $36.80 and a 12-month high of $47.41.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a net margin of 14.82% and a return on equity of 10.71%. During the same quarter in the previous year, the company earned $0.57 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group will post $2.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Wednesday, September 7th. Public Service Enterprise Group’s payout ratio is currently 59.21%.

In related news, COO William Levis sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $43.73, for a total value of $327,975.00. Following the completion of the sale, the chief operating officer now directly owns 156,671 shares of the company’s stock, valued at approximately $6,851,222.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 43,564 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.76, for a total transaction of $1,993,488.64. Following the completion of the sale, the chairman now directly owns 729,201 shares of the company’s stock, valued at $33,368,237.76. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PEG. PGGM Investments raised its stake in Public Service Enterprise Group by 0.7% in the second quarter. PGGM Investments now owns 1,437,634 shares of the company’s stock valued at $67,008,000 after buying an additional 9,542 shares in the last quarter. Retirement Systems of Alabama raised its stake in Public Service Enterprise Group by 0.7% in the second quarter. Retirement Systems of Alabama now owns 257,927 shares of the company’s stock valued at $12,022,000 after buying an additional 1,861 shares in the last quarter. Bank of Montreal Can purchased a new stake in Public Service Enterprise Group during the second quarter valued at about $33,329,000. Boston Advisors LLC raised its stake in Public Service Enterprise Group by 229.9% in the second quarter. Boston Advisors LLC now owns 257,288 shares of the company’s stock valued at $11,992,000 after buying an additional 179,300 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Public Service Enterprise Group by 1.2% in the first quarter. Legal & General Group Plc now owns 2,623,754 shares of the company’s stock valued at $123,677,000 after buying an additional 30,319 shares in the last quarter. 66.33% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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