Public Service Enterprise Group (NYSE:PEG) Stock Rating Upgraded by StockNews.com

Public Service Enterprise Group (NYSE:PEG) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.35.

Public Service Enterprise Group Trading Down 0.2 %

PEG stock opened at $83.49 on Wednesday. Public Service Enterprise Group has a one year low of $64.03 and a one year high of $95.22. The company has a market capitalization of $41.62 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company’s 50 day moving average price is $81.92 and its two-hundred day moving average price is $85.66. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently bought and sold shares of PEG. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Public Service Enterprise Group by 8.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider’s stock valued at $761,000 after purchasing an additional 670 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $4,403,000. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group in the third quarter worth $2,860,000. Wilmington Savings Fund Society FSB raised its stake in shares of Public Service Enterprise Group by 30.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider’s stock valued at $909,000 after acquiring an additional 2,384 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Public Service Enterprise Group by 26.9% during the 3rd quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider’s stock valued at $1,455,000 after acquiring an additional 3,461 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.