Public Service Enterprise Group (NYSE:PEG) Reaches New 12-Month Low - What's Next?

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $77.75 and last traded at $79.89, with a volume of 4464633 shares traded. The stock had previously closed at $81.61.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Barclays dropped their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Guggenheim reduced their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $39.90 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The firm has a 50-day moving average price of $81.11 and a 200-day moving average price of $84.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is 68.85%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.

Institutional Trading of Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its position in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after acquiring an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. raised its stake in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $2,565,000. Czech National Bank boosted its position in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock valued at $9,127,000 after buying an additional 6,545 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $4,736,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.