Public Service Enterprise Group (NYSE:PEG) PT Lowered to $60.00 at Mizuho

Public Service Enterprise Group (NYSE:PEGGet Rating) had its target price lowered by Mizuho from $68.00 to $60.00 in a research report released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the utilities provider’s stock.

A number of other brokerages also recently issued reports on PEG. Guggenheim lowered their price target on shares of Public Service Enterprise Group to $67.00 in a report on Friday, November 4th. Credit Suisse Group increased their price target on shares of Public Service Enterprise Group to $63.00 in a report on Friday, November 4th. Wolfe Research downgraded shares of Public Service Enterprise Group from an outperform rating to a peer perform rating in a report on Thursday, November 17th. The Goldman Sachs Group increased their price target on shares of Public Service Enterprise Group from $75.00 to $76.00 and gave the stock a buy rating in a report on Tuesday, October 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an overweight rating on the stock in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of Hold and an average target price of $68.08.

Public Service Enterprise Group Stock Up 1.1 %

NYSE:PEG opened at $59.01 on Tuesday. The firm has a market capitalization of $29.44 billion, a P/E ratio of 43.39, a PEG ratio of 5.29 and a beta of 0.57. Public Service Enterprise Group has a 1-year low of $52.51 and a 1-year high of $75.61. The company’s fifty day moving average price is $57.99 and its 200-day moving average price is $62.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its quarterly earnings data on Monday, October 31st. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group will post 3.44 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, December 8th. Public Service Enterprise Group’s dividend payout ratio is currently 158.82%.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of PEG. Metis Global Partners LLC lifted its stake in shares of Public Service Enterprise Group by 81.2% in the first quarter. Metis Global Partners LLC now owns 7,999 shares of the utilities provider’s stock worth $560,000 after buying an additional 3,584 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in Public Service Enterprise Group by 32.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 7,205 shares of the utilities provider’s stock worth $504,000 after purchasing an additional 1,748 shares during the last quarter. Versor Investments LP acquired a new stake in Public Service Enterprise Group during the first quarter worth about $710,000. Shell Asset Management Co. increased its position in Public Service Enterprise Group by 137.1% during the first quarter. Shell Asset Management Co. now owns 26,002 shares of the utilities provider’s stock worth $1,820,000 after purchasing an additional 15,037 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Public Service Enterprise Group by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 624,617 shares of the utilities provider’s stock worth $43,723,000 after purchasing an additional 18,916 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

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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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