Public Service Enterprise Group Inc. (PEG) Receives $51.29 Consensus Price Target from Analysts

Public Service Enterprise Group Inc. (NYSE:PEG) has received an average recommendation of “Buy” from the twenty ratings firms that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $51.46.

Several analysts have issued reports on PEG shares. Argus upped their target price on Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, October 10th. Guggenheim restated a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Jefferies Group restated a “hold” rating and issued a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday, October 12th.

Shares of Public Service Enterprise Group (NYSE PEG) traded down $0.27 during trading hours on Friday, reaching $49.77. The company’s stock had a trading volume of 1,659,787 shares, compared to its average volume of 3,614,816. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The stock has a market cap of $25,320.00, a PE ratio of 49.05, a P/E/G ratio of 4.73 and a beta of 0.39. Public Service Enterprise Group has a 12 month low of $41.67 and a 12 month high of $53.28.

In related news, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the transaction, the chief operating officer now owns 81,241 shares of the company’s stock, valued at approximately $4,071,798.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 2,185 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,684 shares of company stock worth $4,998,727. Corporate insiders own 0.61% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its stake in Public Service Enterprise Group by 11.7% during the 2nd quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock worth $221,000 after acquiring an additional 541 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $340,000. People s United Financial Inc. raised its position in Public Service Enterprise Group by 174.1% in the 2nd quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock valued at $347,000 after purchasing an additional 5,119 shares in the last quarter. Reaves W H & Co. Inc. acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $22,266,000. Finally, FMR LLC raised its position in Public Service Enterprise Group by 20.2% in the 2nd quarter. FMR LLC now owns 2,605,260 shares of the utilities provider’s stock valued at $112,051,000 after purchasing an additional 438,684 shares in the last quarter. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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