Public Service Enterprise Group’s (PEG) Maintains Rating Reaffirmed at 92 Resources

92 Resources restated their maintains rating on shares of Public Service Enterprise Group (NYSE:PEG – Get Rating) in a research note published on Monday, Benzinga reports.

Several other brokerages also recently commented on PEG. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the company a market perform rating in a research note on Friday, April 14th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $64.00 to $70.00 and gave the company an overweight rating in a research note on Thursday, April 20th. Mizuho dropped their price objective on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a buy rating for the company in a research note on Monday, March 13th. Guggenheim raised their price target on shares of Public Service Enterprise Group from $68.00 to $69.00 in a research note on Monday, April 24th. Finally, StockNews.com started coverage on shares of Public Service Enterprise Group in a research note on Thursday, May 18th. They set a hold rating for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of Moderate Buy and an average target price of $67.25.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $62.23 on Monday. The company has a market capitalization of $31.05 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.13 and a beta of 0.56. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.79. The company has a 50-day simple moving average of $62.06 and a 200 day simple moving average of $60.92. Public Service Enterprise Group has a 52 week low of $52.51 and a 52 week high of $69.94.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Public Service Enterprise Group had a net margin of 20.64% and a return on equity of 12.78%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 62.3% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group will post 3.44 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, June 8th. Public Service Enterprise Group’s dividend payout ratio is currently 49.14%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the sale, the chief operating officer now directly owns 6,482 shares of the company’s stock, valued at $373,557.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently made changes to their positions in the stock. Concord Wealth Partners bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. Cranbrook Wealth Management LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $25,000. Boyd Watterson Asset Management LLC OH bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $27,000. Romano Brothers AND Company purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $30,000. Finally, Ahrens Investment Partners LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $31,000. 70.67% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.