Barclays initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $63.00 price objective on the utilities provider’s stock.
PEG has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the company an overweight rating in a research note on Friday, June 14th. ValuEngine cut shares of Public Service Enterprise Group from a buy rating to a hold rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut shares of Public Service Enterprise Group from an overweight rating to a neutral rating and cut their price objective for the company from $64.00 to $62.00 in a research note on Tuesday, April 23rd. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, KeyCorp started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, June 4th. They issued a sector weight rating and a $59.40 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $62.46.
Shares of NYSE PEG opened at $57.63 on Tuesday. Public Service Enterprise Group has a fifty-two week low of $49.22 and a fifty-two week high of $61.63. The company’s 50-day moving average is $59.00. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $29.19 billion, a PE ratio of 18.47, a P/E/G ratio of 7.85 and a beta of 0.33.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Public Service Enterprise Group will post 3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, September 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio is 60.26%.
In other news, VP Daniel J. Cregg sold 625 shares of Public Service Enterprise Group 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 completion of the sale, the vice president now directly owns 60,833 shares in the company, valued at approximately $3,705,946.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $58.80, for a total value of $97,020.00. Following the sale, the chief operating officer now owns 85,068 shares of the company’s stock, valued at $5,001,998.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,421 shares of company stock valued at $9,493,650. 0.51% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Zions Bancorporation N.A. acquired a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $25,000. Berman Capital Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 79.0% during the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after buying an additional 203 shares during the last quarter. Thor Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $45,000. Executive Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 137.4% during the second quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock worth $46,000 after buying an additional 452 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $49,000. Institutional investors and hedge funds own 68.78% 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.
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