Public Service Enterprise Group (NYSE:PEG) Sets New 12-Month High at $75.17

Shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $75.17 and last traded at $75.15, with a volume of 1613733 shares traded. The stock had previously closed at $74.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. BMO Capital Markets dropped their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Scotiabank dropped their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley restated an “overweight” rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Get Our Latest Stock Report on Public Service Enterprise Group

Public Service Enterprise Group Trading Up 1.1 %

The business’s 50 day simple moving average is $67.81 and its 200 day simple moving average is $63.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.26 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm earned $1.39 EPS. The business’s revenue was down 26.5% on a year-over-year basis. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.19%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,322 shares of company stock worth $607,376. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Addison Advisors LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $31,000. Operose Advisors LLC raised its stake in shares of Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $36,000. Bruce G. Allen Investments LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $36,000. Finally, CNB Bank acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $34,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

(Get Free Report)

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.

Further Reading

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