Public Service Enterprise Group (NYSE:PEG) Upgraded at StockNews.com

StockNews.com upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a sell rating to a hold rating in a report published on Friday morning.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Bank of America reduced their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $81.59 on Friday. The firm’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $86.02. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a 1-year low of $63.31 and a 1-year high of $95.22. The firm has a market capitalization of $40.68 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. As a group, analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Foundations Investment Advisors LLC raised its position in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares in the last quarter. DRW Securities LLC bought a new position in Public Service Enterprise Group in the third quarter worth $8,244,000. Cullen Investment Group LTD. raised its holdings in 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 in the last quarter. Arvest Bank Trust Division purchased a new position in Public Service Enterprise Group during the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $2,565,000. 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.