Morgan Stanley Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price objective cut by Morgan Stanley from $101.00 to $100.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently weighed in on the company. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Wells Fargo & Company decreased their price target 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. Guggenheim lowered their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Finally, Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.54.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $82.08 on Wednesday. Public Service Enterprise Group has a fifty-two week low of $72.82 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market cap of $40.96 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48. The firm’s fifty day moving average price is $80.35 and its 200-day moving average price is $82.59.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the business. Centre Asset Management LLC boosted its holdings in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 121 shares in the last quarter. FourThought Financial Partners LLC lifted its position in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 127 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock worth $3,523,000 after purchasing an additional 130 shares during the period. Summit Financial LLC boosted its stake in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 133 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 139 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.