Public Service Enterprise Group (NYSE:PEG) Downgraded to “C” at TheStreet

Public Service Enterprise Group (NYSE:PEGGet Rating) was downgraded by analysts at TheStreet from a “b” rating to a “c” rating in a report issued on Monday, TheStreetRatingsTable reports.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Citigroup started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Credit Suisse Group initiated coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $73.09.

NYSE PEG opened at $60.97 on Monday. The company has a market cap of $30.44 billion, a price-to-earnings ratio of -23.72, a PEG ratio of 3.25 and a beta of 0.55. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.89 and a quick ratio of 0.79. The stock’s fifty day moving average price is $69.45 and its 200 day moving average price is $67.12. Public Service Enterprise Group has a 1 year low of $58.96 and a 1 year high of $75.61.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its earnings results on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. Public Service Enterprise Group had a positive return on equity of 12.94% and a negative net margin of 14.19%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s revenue was down 19.9% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group will post 3.48 earnings per share for the current year.

In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $68.95, for a total value of $681,432.85. Following the sale, the chief executive officer now directly owns 464,270 shares in the company, valued at $32,011,416.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 30,249 shares of company stock worth $2,092,304 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC increased its holdings in Public Service Enterprise Group by 10.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 455,661 shares of the utilities provider’s stock valued at $30,406,000 after buying an additional 44,510 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Public Service Enterprise Group by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 86,445 shares of the utilities provider’s stock worth $5,768,000 after acquiring an additional 1,499 shares in the last quarter. Allegheny Financial Group LTD purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $57,000. JT Stratford LLC boosted its holdings in Public Service Enterprise Group by 68.7% in the fourth quarter. JT Stratford LLC now owns 7,535 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 3,069 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Public Service Enterprise Group by 28.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,538,784 shares of the utilities provider’s stock valued at $102,683,000 after purchasing an additional 339,900 shares during the last quarter. 70.82% 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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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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