Public Service Enterprise Group (NYSE:PEG) Reaches New 1-Year High at $67.81

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $67.81 and last traded at $67.77, with a volume of 599945 shares changing hands. The stock had previously closed at $67.23.

Wall Street Analyst Weigh In

Several research firms have commented on PEG. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Royal Bank of Canada upped their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Bank of America upped their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Scotiabank dropped their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday. Finally, BMO Capital Markets dropped their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

The stock has a market capitalization of $33.95 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The stock has a 50-day simple moving average of $64.31 and a 200 day simple moving average of $62.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share 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, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is owned by company insiders.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $36,000. Bruce G. Allen Investments LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $36,000. Finally, CNB Bank bought a new position in Public Service Enterprise Group during the third quarter worth about $34,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.