Public Service Enterprise Group (NYSE:PEG) had its target price trimmed by Wells Fargo & Co from $63.00 to $60.00 in a report released on Monday, September 17th. The firm currently has an outperform rating on the utilities provider’s stock.
PEG has been the subject of a number of other reports. Goldman Sachs Group cut Public Service Enterprise Group from a buy rating to a neutral rating and lowered their target price for the company from $55.00 to $53.00 in a report on Thursday, July 19th. Citigroup lifted their price target on Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a neutral rating in a research report on Monday, July 9th. Morgan Stanley boosted their target price on Public Service Enterprise Group from $57.00 to $60.00 and gave the company an overweight rating in a report on Monday, July 16th. JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $54.00 to $55.00 and gave the company an overweight rating in a research note on Tuesday, May 29th. Finally, Deutsche Bank downgraded Public Service Enterprise Group from a buy rating to a hold rating in a research note on Tuesday, July 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Public Service Enterprise Group currently has a consensus rating of Buy and a consensus target price of $55.31.
NYSE PEG traded up $0.09 during trading hours on Monday, reaching $53.68. The stock had a trading volume of 4,062,091 shares, compared to its average volume of 3,075,057. Public Service Enterprise Group has a 52-week low of $46.19 and a 52-week high of $55.36. The firm has a market cap of $26.68 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.86 and a beta of 0.32. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.
Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same period in the prior year, the company earned $0.62 EPS. As a group, research analysts expect that Public Service Enterprise Group will post 3.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.35%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.
In related news, Chairman Ralph Izzo sold 49,829 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $52.60, for a total value of $2,621,005.40. Following the sale, the chairman now directly owns 578,910 shares in the company, valued at $30,450,666. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 123,069 shares of company stock worth $6,430,191. Company insiders own 0.58% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PEG. JPMorgan Chase & Co. boosted its position in Public Service Enterprise Group by 174.3% during the first quarter. JPMorgan Chase & Co. now owns 5,306,316 shares of the utilities provider’s stock worth $266,590,000 after purchasing an additional 3,372,101 shares in the last quarter. BlackRock Inc. increased its stake in Public Service Enterprise Group by 2.5% during the first quarter. BlackRock Inc. now owns 49,608,001 shares of the utilities provider’s stock worth $2,492,306,000 after acquiring an additional 1,187,565 shares during the last quarter. Morgan Stanley boosted its position in shares of Public Service Enterprise Group by 71.1% in the second quarter. Morgan Stanley now owns 2,008,074 shares of the utilities provider’s stock worth $108,717,000 after buying an additional 834,721 shares during the period. Millennium Management LLC boosted its position in shares of Public Service Enterprise Group by 60.8% in the first quarter. Millennium Management LLC now owns 1,948,085 shares of the utilities provider’s stock worth $97,872,000 after buying an additional 736,283 shares during the period. Finally, Unigestion Holding SA purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $20,664,000. Institutional investors own 68.45% of the company’s stock.
Public Service Enterprise Group Company Profile
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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