Public Service Enterprise Group (NYSE:PEG) Rating Lowered to Hold at ValuEngine

Public Service Enterprise Group (NYSE:PEG) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

PEG has been the subject of a number of other research reports. JPMorgan Chase & Co. cut shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Morgan Stanley increased their target price on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Mizuho increased their target price on Public Service Enterprise Group from $61.50 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Bank of America cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Friday, July 19th. Finally, KeyCorp initiated coverage on Public Service Enterprise Group in a report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus target price of $62.41.

Shares of PEG traded down $0.31 during trading hours on Thursday, reaching $56.87. The stock had a trading volume of 3,693,802 shares, compared to its average volume of 2,196,230. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04. Public Service Enterprise Group has a 52 week low of $49.22 and a 52 week high of $61.63. The company’s 50-day moving average is $59.79. The company has a market cap of $28.89 billion, a P/E ratio of 18.23, a P/E/G ratio of 4.50 and a beta of 0.33.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts forecast that Public Service Enterprise Group will post 3.24 earnings per share for the current year.

In other news, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $57.18, for a total transaction of $2,996,632.26. Following the completion of the transaction, the chairman now directly owns 373,588 shares in the company, valued at approximately $21,361,761.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Daniel J. Cregg sold 625 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $60.92, for a total transaction of $38,075.00. Following the transaction, the vice president now owns 60,833 shares of the company’s stock, valued at $3,705,946.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,046 shares of company stock valued at $9,530,682. Corporate insiders own 0.51% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,527,327 shares of the utilities provider’s stock worth $339,147,000 after buying an additional 489,501 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 42.7% during the 1st quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock worth $385,966,000 after buying an additional 1,942,914 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Northern Trust Corp now owns 6,166,408 shares of the utilities provider’s stock worth $366,346,000 after buying an additional 191,442 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 16.0% during the 1st quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock worth $321,130,000 after buying an additional 752,831 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Public Service Enterprise Group by 1.0% during the 1st quarter. FMR LLC now owns 5,215,929 shares of the utilities provider’s stock worth $309,879,000 after buying an additional 52,334 shares during the last quarter. Institutional investors own 68.76% 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; 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.

Featured Article: Total Return

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.