Shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $65.38.
PEG has been the subject of several research reports. StockNews.com began coverage on shares of Public Service Enterprise Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barclays initiated coverage on Public Service Enterprise Group in a research report on Wednesday, August 23rd. They issued an “overweight” rating and a $64.00 price target on the stock. The Goldman Sachs Group started coverage on Public Service Enterprise Group in a research report on Wednesday, June 7th. They set a “neutral” rating and a $64.00 price objective for the company. UBS Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $66.00 in a report on Monday, August 14th. Finally, Mizuho increased their target price on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th.
Insider Activity at Public Service Enterprise Group
Institutional Investors Weigh In On Public Service Enterprise Group
Several hedge funds and other institutional investors have recently modified their holdings of PEG. ST Germain D J Co. Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $421,000. Virginia Retirement Systems ET AL bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $23,566,000. Asset Dedication LLC grew its position in shares of Public Service Enterprise Group by 8.6% during the second quarter. Asset Dedication LLC now owns 25,231 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 1,996 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Public Service Enterprise Group by 277.2% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 28,682 shares of the utilities provider’s stock valued at $1,796,000 after purchasing an additional 21,079 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $360,000. 72.28% of the stock is currently owned by hedge funds and other institutional investors.
Public Service Enterprise Group Stock Performance
Shares of PEG opened at $60.89 on Thursday. The company has a 50-day simple moving average of $61.76 and a two-hundred day simple moving average of $61.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a market capitalization of $30.39 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 3.20 and a beta of 0.58. Public Service Enterprise Group has a one year low of $52.51 and a one year high of $68.31.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Public Service Enterprise Group had a return on equity of 12.64% and a net margin of 23.99%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts anticipate that Public Service Enterprise Group will post 3.45 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is presently 41.01%.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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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