Morgan Stanley Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $86.00

Public Service Enterprise Group (NYSE:PEGGet Rating) had its price target lifted by Morgan Stanley from $80.00 to $86.00 in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also recently weighed in on PEG. StockNews.com began coverage on shares of Public Service Enterprise Group in a research note on Thursday, March 31st. They set a sell rating for the company. Citigroup began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, March 22nd. They set a neutral rating and a $69.00 price target for the company. Mizuho increased their price target on shares of Public Service Enterprise Group from $67.00 to $73.00 in a research note on Friday, January 7th. Evercore ISI upgraded shares of Public Service Enterprise Group from an in-line rating to an outperform rating and set a $71.00 price target for the company in a research note on Tuesday, January 25th. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an overweight rating in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $72.91.

Shares of Public Service Enterprise Group stock opened at $73.88 on Wednesday. The company has a fifty day simple moving average of $68.28 and a 200-day simple moving average of $65.66. Public Service Enterprise Group has a 12-month low of $58.96 and a 12-month high of $75.61. The company has a current ratio of 0.88, a quick ratio of 0.78 and a debt-to-equity ratio of 1.05. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of -57.27, a PEG ratio of 4.95 and a beta of 0.57.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its earnings results on Thursday, February 24th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Public Service Enterprise Group had a negative net margin of 6.67% and a positive return on equity of 12.22%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts forecast that Public Service Enterprise Group will post 3.48 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.92%. Public Service Enterprise Group’s dividend payout ratio is presently -167.44%.

In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $66.15, for a total value of $653,760.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $64.47, for a total transaction of $315,258.30. The disclosure for this sale can be found here. Insiders sold a total of 30,146 shares of company stock valued at $2,029,395 in the last quarter. Insiders own 0.55% of the company’s stock.

Large investors have recently bought and sold shares of the business. Bromfield Sneider Wealth Advisors purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $27,000. TAP Consulting LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $28,000. First Community Trust NA purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $31,000. Covestor Ltd purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $32,000. Finally, Tower View Investment Management & Research LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.

About Public Service Enterprise Group (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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