Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by Barclays from $53.00 to $59.00 in a report issued on Monday, The Fly reports. They currently have an equal weight rating on the utilities provider’s stock.
PEG has been the subject of a number of other research reports. Wells Fargo & Co boosted their target price on Public Service Enterprise Group from $57.00 to $65.00 and gave the stock an overweight rating in a report on Monday, July 13th. They noted that the move was a valuation call. Mizuho cut Public Service Enterprise Group from a buy rating to a neutral rating and decreased their target price for the stock from $54.00 to $53.00 in a report on Monday, April 20th. They noted that the move was a valuation call. Seaport Global Securities began coverage on Public Service Enterprise Group in a report on Wednesday, May 20th. They set a neutral rating for the company. UBS Group decreased their target price on Public Service Enterprise Group from $65.00 to $64.00 and set a buy rating for the company in a report on Monday, June 22nd. Finally, Morgan Stanley boosted their target price on Public Service Enterprise Group from $66.00 to $67.00 and gave the stock an overweight rating in a report on Friday, August 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Public Service Enterprise Group has a consensus rating of Hold and a consensus target price of $61.77.
PEG opened at $53.85 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 6.64 and a beta of 0.60. The business has a 50-day moving average of $53.12 and a two-hundred day moving average of $51.27. Public Service Enterprise Group has a 12 month low of $34.75 and a 12 month high of $63.88.
Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.60 by $0.19. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. Equities research analysts anticipate that Public Service Enterprise Group will post 3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Tuesday, September 8th. Public Service Enterprise Group’s payout ratio is 59.76%.
In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 5,757 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $54.01, for a total value of $310,935.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Rose M. Chernick sold 600 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $55.00, for a total value of $33,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,795 shares of company stock worth $586,230. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Elmwood Wealth Management Inc. purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at $25,000. PrairieView Partners LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth about $27,000. Balentine LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth about $28,000. Centerpoint Advisors LLC lifted its stake in Public Service Enterprise Group by 70.6% in the 1st quarter. Centerpoint Advisors LLC now owns 725 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $39,000. 67.77% of the stock is currently owned by institutional investors.
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; 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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