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

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

Analysts Set New Price Targets

Several research analysts recently weighed in on PEG shares. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday. Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $88.81.

Public Service Enterprise Group Trading Up 1.1 %

The company's fifty day simple moving average is $81.20 and its two-hundred day simple moving average is $84.88. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.17%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 4,134 shares of company stock valued at $337,941. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of PEG. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after acquiring an additional 365,666 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Public Service Enterprise Group by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after purchasing an additional 604,978 shares during the last quarter. Northern Trust Corp lifted its position in shares of Public Service Enterprise Group by 6.1% in the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after purchasing an additional 335,135 shares in the last quarter. Finally, Norges Bank acquired a new position in Public Service Enterprise Group during the fourth quarter worth $445,005,000. Institutional investors and hedge funds own 73.34% of the company's stock.

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.