Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating reissued by research analysts at MED in a report issued on Monday.
The analysts wrote, “PEGI’s portfolio showed steady performance as 3Q:18 results modestly outperformed Street expectations. The company continues to have a solid portfolio of assets in its ROFO list which we believe can support growth over the next couple of years. With a dividend yield of ~9%, we continue to believe PEGI is significantly undervalued. We believe its underwriting practices are in line with industry best practices and its wind resource modelling capabilities are among the industry leaders. While some investors might look for PEGI to grow dividends, we believe management is prudent to deploy cash elsewhere until shares trade in line with assets that carry a similar risk profile showing ~5% returns.””
Several other equities analysts also recently weighed in on the company. UBS Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a research report on Wednesday, October 10th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Wells Fargo & Co reduced their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. Goldman Sachs Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $53.00 in a research report on Thursday, July 19th. Finally, Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Public Service Enterprise Group has an average rating of “Buy” and an average price target of $56.46.
NYSE PEG traded up $0.37 during trading hours on Monday, hitting $53.35. 152,593 shares of the company’s stock were exchanged, compared to its average volume of 3,470,047. Public Service Enterprise Group has a 12-month low of $46.19 and a 12-month high of $56.68. The company has a market capitalization of $26.78 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90.
Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Equities analysts predict that Public Service Enterprise Group will post 3.1 EPS for the current year.
In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $52.57, for a total transaction of $2,755,035.99. Following the completion of the sale, the chairman now directly owns 558,073 shares in the company, valued at $29,337,897.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 154,642 shares of company stock valued at $8,150,939 over the last 90 days. 0.58% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in PEG. American Research & Management Co. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $108,000. NuWave Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $118,000. Psagot Investment House Ltd. acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $129,000. Squar Milner Financial Services LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $149,000. Finally, Cordasco Financial Network grew its stake in shares of Public Service Enterprise Group by 63.1% in the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 69.00% 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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