Public Service Enterprise Group (NYSE:PEG) Hits New 1-Year High at $67.14

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.14 and last traded at $67.10, with a volume of 96997 shares. The stock had previously closed at $66.64.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. Bank of America lifted their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a research note on Tuesday, February 27th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Finally, Barclays boosted their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $66.38.

Public Service Enterprise Group Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The company has a 50-day moving average price of $61.65 and a 200-day moving average price of $61.28. The firm has a market capitalization of $33.12 billion, a PE ratio of 12.95, a P/E/G ratio of 2.92 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business's revenue was down 17.0% on a year-over-year basis. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 3.61%. Public Service Enterprise Group's dividend payout ratio is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,948 shares of company stock valued at $510,300. Insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its holdings in Public Service Enterprise Group by 7.5% during the 1st quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider's stock worth $256,000 after buying an additional 256 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Public Service Enterprise Group by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider's stock worth $92,310,000 after buying an additional 83,174 shares in the last quarter. Prudential PLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $798,000. Cetera Investment Advisers raised its position in shares of Public Service Enterprise Group by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider's stock valued at $1,793,000 after acquiring an additional 332 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $214,000. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.