Guggenheim Reiterates Buy Rating for Public Service Enterprise Group (NYSE:PEG)

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

Other research analysts have also issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Scotiabank lifted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Barclays cut their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Public Service Enterprise Group Trading Down 0.9 %

Shares of NYSE:PEG traded down $0.76 during midday trading on Wednesday, reaching $85.62. The company’s stock had a trading volume of 590,504 shares, compared to its average volume of 2,742,321. 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 firm has a 50 day moving average price of $89.54 and a two-hundred day moving average price of $82.21. The firm has a market capitalization of $42.66 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 3.30 and a beta of 0.62. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. As a group, analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,798 shares of company stock worth $1,595,921. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in PEG. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Rothschild Investment LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter worth about $58,000. Institutional investors own 73.34% of the company’s stock.

About Public Service Enterprise Group

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.