Public Service Enterprise Group (NYSE:PEG) Sets New 1-Year High at $72.21

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $72.21 and last traded at $72.06, with a volume of 235436 shares traded. The stock had previously closed at $71.34.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEG. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, April 4th. Scotiabank lowered their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a "sector perform" rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 7th. TheStreet raised shares of Public Service Enterprise Group from a "c+" rating to a "b-" rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.15.

Public Service Enterprise Group Stock Up 0.9 %

The company has a market cap of $35.85 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The stock has a 50-day simple moving average of $66.00 and a 200-day simple moving average of $62.80. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business's revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.33%. Public Service Enterprise Group's payout ratio is 66.48%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company's stock, valued at $10,500,172.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company's stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company's stock, valued at $10,500,172.15. The disclosure for this sale can be found here. Insiders sold 9,322 shares of company stock worth $607,376 over the last ninety days. Company insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Operose Advisors LLC raised its stake in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 435 shares during the period. Addison Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $31,000. CNB Bank acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $36,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $36,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

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.