Public Service Enterprise Group (NYSE:PEG) had its price target increased by Citigroup from $53.00 to $54.00 in a research report report published on Monday. Citigroup currently has a neutral rating on the utilities provider’s stock.
A number of other equities analysts have also issued reports on PEG. ValuEngine upgraded Public Service Enterprise Group from a hold rating to a buy rating in a research note on Tuesday, June 26th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $59.00 to $57.00 and set an overweight rating for the company in a research note on Wednesday, June 13th. Deutsche Bank downgraded Public Service Enterprise Group from a buy rating to a hold rating in a research report on Tuesday, July 3rd. JPMorgan Chase & Co. increased their price target on Public Service Enterprise Group from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Tuesday, April 10th. Finally, Bank of America raised Public Service Enterprise Group from a neutral rating to a buy rating in a research report on Monday, April 16th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Public Service Enterprise Group currently has an average rating of Buy and a consensus price target of $52.39.
Shares of Public Service Enterprise Group opened at $52.62 on Monday, Marketbeat reports. The firm has a market capitalization of $25.96 billion, a P/E ratio of 17.96, a PEG ratio of 2.70 and a beta of 0.41. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group has a 1 year low of $42.07 and a 1 year high of $54.50.
Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, April 30th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.02). The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Public Service Enterprise Group had a return on equity of 11.22% and a net margin of 21.68%. During the same quarter last year, the business earned $0.92 EPS. analysts forecast that Public Service Enterprise Group will post 3.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Thursday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.
In other news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $53.85, for a total transaction of $1,121,857.05. Following the sale, the chairman now directly owns 574,131 shares in the company, valued at approximately $30,916,954.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 16,400 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $50.36, for a total value of $825,904.00. Following the sale, the executive vice president now owns 51,604 shares in the company, valued at $2,598,777.44. The disclosure for this sale can be found here. Insiders have sold a total of 78,899 shares of company stock worth $4,125,226 over the last 90 days. Insiders own 0.58% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Avestar Capital LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $106,000. Cordasco Financial Network boosted its holdings in Public Service Enterprise Group by 63.1% in the 2nd quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,100 shares during the last quarter. Private Capital Group LLC boosted its holdings in Public Service Enterprise Group by 345.8% in the 1st quarter. Private Capital Group LLC now owns 3,624 shares of the utilities provider’s stock worth $182,000 after buying an additional 2,811 shares during the last quarter. Signaturefd LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter worth about $199,000. Finally, Bank of Hawaii acquired a new stake in Public Service Enterprise Group in the 1st quarter worth about $202,000. Institutional investors own 68.18% of the company’s stock.
About Public Service Enterprise Group
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 Power. The PSE&G segment transmits electricity; and 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 to customers.
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