StockNews.com Downgrades Public Service Enterprise Group (NYSE:PEG) to Sell

Public Service Enterprise Group (NYSE:PEG) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other research analysts have also recently commented on PEG. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $89.58.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.48 during trading hours on Tuesday, reaching $77.61. 4,259,854 shares of the stock traded hands, compared to its average volume of 2,706,197. The company has a market cap of $38.69 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $82.07 and its two-hundred day moving average price is $85.87. Public Service Enterprise Group has a 52-week low of $64.03 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEG. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the fourth quarter worth $39,000. Hedge funds and other 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.