Public Service Enterprise Group (NYSE:PEG) Upgraded at UBS Group

UBS Group upgraded shares of Public Service Enterprise Group (NYSE:PEG - Free Report) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat Ratings reports. UBS Group currently has $97.00 price objective on the utilities provider's stock, up from their prior price objective of $86.00.

Several other research analysts also recently weighed in on PEG. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Evercore ISI dropped their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and an average target price of $89.46.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $1.13 during mid-day trading on Monday, hitting $82.30. 2,275,592 shares of the company traded hands, compared to its average volume of 2,780,421. The stock's fifty day moving average price is $80.43 and its 200-day moving average price is $82.24. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group has a one year low of $73.72 and a one year high of $95.22. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $1.31 earnings per share. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after buying an additional 162 shares during the period. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $32,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $33,000. Institutional investors own 73.34% of the company's stock.

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.