Shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.79 and last traded at $69.49, with a volume of 1591433 shares changing hands. The stock had previously closed at $69.08.
Analysts Set New Price Targets
A number of brokerages have issued reports on PEG. Guggenheim cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 target price on the stock. in a report on Monday, January 22nd. Scotiabank lowered their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a "sector perform" rating on the stock in a report on Monday, April 22nd. Morgan Stanley reissued an "overweight" rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Bank of America boosted their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Finally, Barclays boosted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an "overweight" rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $67.15.
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Public Service Enterprise Group Trading Up 1.1 %
The stock has a market cap of $34.81 billion, a P/E ratio of 13.61, a PEG ratio of 3.00 and a beta of 0.58. The firm's fifty day moving average price is $65.17 and its two-hundred day moving average price is $62.48. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm's revenue was down 26.5% on a year-over-year basis. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.
Public Service Enterprise Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.44%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 46.78%.
Insider Buying and Selling
In related news, CEO Ralph A. Larossa sold 1,374 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company's stock, valued at $9,684,423. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,948 shares of company stock worth $511,814. Corporate insiders own 0.18% of the company's stock.
Institutional Trading of Public Service Enterprise Group
Institutional investors have recently added to or reduced their stakes in the business. Modera Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider's stock valued at $378,000 after acquiring an additional 170 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Public Service Enterprise Group by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider's stock valued at $3,567,000 after acquiring an additional 177 shares during the last quarter. Strategic Investment Advisors MI raised its stake in shares of Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider's stock valued at $1,071,000 after acquiring an additional 179 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider's stock valued at $263,000 after acquiring an additional 183 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Public Service Enterprise Group by 1.1% during the first quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider's stock valued at $1,167,000 after acquiring an additional 183 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.
About Public Service Enterprise Group
(
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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.
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