Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $65.75.
A number of analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 14th. The Goldman Sachs Group started coverage on Public Service Enterprise Group in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $64.00 target price for the company. StockNews.com started coverage on shares of Public Service Enterprise Group in a research report on Thursday, May 18th. They set a “hold” rating for the company. Guggenheim upped their price target on shares of Public Service Enterprise Group from $68.00 to $69.00 in a research report on Monday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Public Service Enterprise Group from $70.00 to $67.00 in a research report on Wednesday, June 7th.
Insider Activity at Public Service Enterprise Group
In other news, CEO Ralph A. Larossa sold 4,168 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $63.01, for a total value of $262,625.68. Following the completion of the transaction, the chief executive officer now owns 122,572 shares of the company’s stock, valued at approximately $7,723,261.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in PEG. JPMorgan Chase & Co. lifted its position in Public Service Enterprise Group by 174.6% during the 4th quarter. JPMorgan Chase & Co. now owns 19,641,382 shares of the utilities provider’s stock valued at $1,203,428,000 after acquiring an additional 12,488,284 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Public Service Enterprise Group by 259.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider’s stock valued at $275,973,000 after acquiring an additional 3,252,500 shares during the period. Norges Bank purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $141,476,000. Perpetual Ltd bought a new stake in Public Service Enterprise Group in the first quarter worth $134,900,000. Finally, Nordea Investment Management AB boosted its holdings in Public Service Enterprise Group by 51.2% in the fourth quarter. Nordea Investment Management AB now owns 5,846,552 shares of the utilities provider’s stock worth $360,323,000 after acquiring an additional 1,978,928 shares in the last quarter. Institutional investors own 70.37% of the company’s stock.
Public Service Enterprise Group Price Performance
NYSE:PEG opened at $64.92 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.79. Public Service Enterprise Group has a 52-week low of $52.51 and a 52-week high of $69.94. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 3.86 and a beta of 0.57. The stock has a fifty day moving average of $62.13 and a 200 day moving average of $61.73.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Public Service Enterprise Group had a net margin of 20.64% and a return on equity of 12.78%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s quarterly revenue was up 62.3% compared to the same quarter last year. On average, research analysts expect that Public Service Enterprise Group will post 3.45 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 3.51%. Public Service Enterprise Group’s dividend payout ratio is presently 49.14%.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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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