Public Service Enterprise Group (NYSE:PEG) Reaches New 52-Week High at $82.68

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) reached a new 52-week high on Thursday . The stock traded as high as $82.68 and last traded at $82.21, with a volume of 254518 shares traded. The stock had previously closed at $82.20.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research reports. Barclays increased their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Mizuho raised 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. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research report on Friday. They set a “hold” rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $77.92.

Public Service Enterprise Group Price Performance

The business has a fifty day moving average of $78.81 and a 200 day moving average of $72.77. The firm has a market cap of $41.93 billion, a P/E ratio of 23.31, a PEG ratio of 2.99 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insider Buying and Selling

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,068 shares of company stock valued at $2,406,965. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Family Firm Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC increased its position in shares of 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. Finally, PFS Partners LLC raised its stake in Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.