Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $90.96 Consensus Target Price from Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $90.9615.

A number of brokerages have commented on PEG. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Barclays cut their price objective on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. UBS Group reduced their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Finally, TD Cowen upped their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $80.68 on Thursday. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $91.25. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The company has a market cap of $40.27 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.60 and a beta of 0.59. The business’s 50 day moving average is $79.90 and its two-hundred day moving average is $82.15.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Hedge Funds Weigh In On Public Service Enterprise Group

Several large investors have recently bought and sold shares of the business. Advisory Alpha LLC grew its holdings in Public Service Enterprise Group by 14.6% during the 4th quarter. Advisory Alpha LLC now owns 11,575 shares of the utilities provider’s stock worth $929,000 after acquiring an additional 1,475 shares during the period. Ignite Planners LLC grew its stake in shares of Public Service Enterprise Group by 3.8% during the fourth quarter. Ignite Planners LLC now owns 4,434 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 161 shares during the period. Kingdom Financial Group LLC. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $55,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Public Service Enterprise Group by 11.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,500 shares of the utilities provider’s stock valued at $1,164,000 after buying an additional 1,485 shares during the period. Finally, FourThought Financial Partners LLC boosted its holdings in Public Service Enterprise Group by 4.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,848 shares of the utilities provider’s stock worth $389,000 after buying an additional 224 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.