Public Service Enterprise Group (NYSE:PEG) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Public Service Enterprise Group (NYSE:PEG – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the utilities provider’s stock.

PEG has been the subject of several other reports. Wolfe Research downgraded shares of Public Service Enterprise Group from an outperform rating to a peer perform rating in a report on Thursday, November 17th. BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a market perform rating for the company in a report on Monday, March 13th. TheStreet raised shares of Public Service Enterprise Group from a c rating to a b rating in a report on Tuesday, February 21st. Mizuho cut their price target on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a buy rating for the company in a report on Monday, March 13th. Finally, Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $70.00 to $68.00 and set an overweight rating for the company in a report on Wednesday, February 22nd. Six 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 currently has an average rating of Hold and a consensus price target of $67.20.

Public Service Enterprise Group Stock Down 1.1 %

PEG opened at $58.53 on Thursday. The company has a 50 day moving average of $60.74 and a 200 day moving average of $60.14. The company has a market cap of $29.19 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 10.04 and a beta of 0.55. Public Service Enterprise Group has a 12 month low of $52.51 and a 12 month high of $75.61. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a net margin of 10.52% and a return on equity of 12.88%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.43 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, March 9th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.

Insider Buying and Selling

In related news, COO Eric Carr sold 7,105 shares of Public Service Enterprise Group stock in a transaction on Monday, March 13th. The shares were sold at an average price of $57.63, for a total value of $409,461.15. Following the transaction, the chief operating officer now owns 6,482 shares in the company, valued at approximately $373,557.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. increased its position in shares of Public Service Enterprise Group by 19.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,692 shares of the utilities provider’s stock valued at $1,819,000 after acquiring an additional 4,864 shares during the period. Victory Capital Management Inc. increased its position in shares of Public Service Enterprise Group by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 166,314 shares of the utilities provider’s stock valued at $10,190,000 after acquiring an additional 1,240 shares during the period. Great Lakes Retirement Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $1,583,000. Voya Investment Management LLC increased its position in shares of Public Service Enterprise Group by 431.4% in the fourth quarter. Voya Investment Management LLC now owns 928,733 shares of the utilities provider’s stock valued at $56,903,000 after acquiring an additional 753,950 shares during the period. Finally, ST Germain D J Co. Inc. increased its position in shares of Public Service Enterprise Group by 81.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 11,850 shares of the utilities provider’s stock valued at $350,000 after acquiring an additional 5,306 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

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.