Public Service Enterprise Group (NYSE:PEG) Sets New 52-Week High at $75.93

Public Service Enterprise Group Incorporated (NYSE:PEG) hit a new 52-week high during trading on Tuesday . The company traded as high as $75.93 and last traded at $75.85, with a volume of 910890 shares trading hands. The stock had previously closed at $74.59.

Analysts Set New Price Targets

A number of research firms have weighed in on PEG. Mizuho lifted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays boosted their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday. Scotiabank cut their price objective 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, April 22nd. Wells Fargo & Company boosted their target price 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, Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.17.

Public Service Enterprise Group Trading Up 0.3 %

The business’s fifty day moving average is $73.73 and its two-hundred day moving average is $66.50. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm has a market cap of $38.12 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 3.10 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s revenue was down 26.5% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.14%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $31,000. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $36,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $37,000. Finally, Salomon & Ludwin LLC raised its holdings in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the period. Institutional investors 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.