Public Service Enterprise Group (NYSE:PEG) Lifted to “B” at TheStreet

Public Service Enterprise Group (NYSE:PEGGet Rating) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Monday, TheStreetRatingsTable reports.

PEG has been the topic of several other research reports. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. Citigroup began coverage on Public Service Enterprise Group in a report on Tuesday, March 22nd. They set a “neutral” rating and a $69.00 price objective for the company. Morgan Stanley upped their target price on Public Service Enterprise Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, March 22nd. StockNews.com started coverage on Public Service Enterprise Group in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Mizuho increased their price target on Public Service Enterprise Group from $67.00 to $73.00 in a research report on Friday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Buy” and a consensus price target of $72.36.

NYSE:PEG opened at $73.08 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.78 and a current ratio of 0.88. Public Service Enterprise Group has a 52-week low of $58.96 and a 52-week high of $73.39. The firm has a market cap of $36.69 billion, a price-to-earnings ratio of -56.65, a PEG ratio of 4.95 and a beta of 0.57. The business’s fifty day moving average is $67.74 and its 200 day moving average is $65.41.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Public Service Enterprise Group had a positive return on equity of 12.22% and a negative net margin of 6.67%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group will post 3.48 EPS for the current fiscal year.

In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $70.44, for a total value of $696,158.52. Following the sale, the chief executive officer now directly owns 474,153 shares in the company, valued at $33,399,337.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 4,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $66.17, for a total transaction of $323,571.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,146 shares of company stock valued at $2,029,395. 0.55% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its position in shares of Public Service Enterprise Group by 3.9% in the first quarter. Fifth Third Bancorp now owns 34,231 shares of the utilities provider’s stock worth $2,396,000 after acquiring an additional 1,288 shares in the last quarter. Hamlin Capital Management LLC increased its position in shares of Public Service Enterprise Group by 9.4% in the first quarter. Hamlin Capital Management LLC now owns 1,796,560 shares of the utilities provider’s stock worth $125,759,000 after acquiring an additional 154,253 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Public Service Enterprise Group by 67.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 771 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 311 shares in the last quarter. Wealth Alliance Advisory Group LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $210,000. Finally, Veracity Capital LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $203,000. 70.69% of the stock is currently owned by institutional investors.

About Public Service Enterprise Group (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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