Public Service Enterprise Group Incorporated (PEG) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Public Service Enterprise Group Incorporated (NYSE:PEG) from a buy rating to a hold rating in a report published on Thursday, November 2nd.

According to Zacks, “Public Service Enterprise reported dismal quarterly numbers for the third quarter of 2017. Both the top and bottom-line figures failed to meet the respective Zacks Consensus Estimates. Year over year also results were disappointing. Nevertheless, the company’s consistent capital-investment plans backed by a stable liquidity position have the potential to boost its performance. Apart from focusing on transmission and distribution infrastructure, the company is also expanding its renewable assets. Its share price has outperformed the broader industry over a year. However, environmental issues, such as restrictions on carbon dioxide emissions and other pollutants produced by Public Service Enterprise’s fossil units, may enhance compliance-related costs for the company. The company’s huge capital investment also remains a concern.”

Other analysts have also issued research reports about the stock. Evercore ISI raised shares of Public Service Enterprise Group from an in-line rating to an outperform rating and raised their price target for the company from $46.75 to $50.00 in a report on Monday, September 25th. Bank of America Corporation assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 24th. They issued a neutral rating and a $49.00 price target for the company. Barclays PLC raised shares of Public Service Enterprise Group from an equal weight rating to an overweight rating and lifted their target price for the stock from $49.00 to $51.00 in a report on Friday, September 22nd. Wolfe Research raised shares of Public Service Enterprise Group from an underperform rating to a market perform rating in a report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday, October 12th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $50.42.

Shares of Public Service Enterprise Group (NYSE PEG) traded up $0.03 on Thursday, reaching $51.60. 2,440,549 shares of the company’s stock were exchanged, compared to its average volume of 2,768,791. Public Service Enterprise Group has a 1 year low of $40.65 and a 1 year high of $52.12. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $26,060.00, a PE ratio of 17.76, a price-to-earnings-growth ratio of 6.43 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The business’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. analysts expect that Public Service Enterprise Group will post 2.92 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.33%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 168.63%.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $46.50, for a total transaction of $968,734.50. The disclosure for this sale can be found here. Insiders have sold a total of 242,433 shares of company stock worth $11,901,112 over the last three months. Insiders own 0.61% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of Public Service Enterprise Group by 1.2% during the 2nd quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock worth $2,331,000 after purchasing an additional 617 shares during the last quarter. Advisory Services Network LLC grew its stake in Public Service Enterprise Group by 11.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock valued at $221,000 after buying an additional 541 shares during the last quarter. Rench Wealth Management Inc. grew its stake in Public Service Enterprise Group by 1.1% in the 2nd quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock valued at $1,856,000 after buying an additional 470 shares during the last quarter. People s United Financial Inc. grew its stake in Public Service Enterprise Group by 174.1% in the 2nd quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock valued at $347,000 after buying an additional 5,119 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Public Service Enterprise Group by 4.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock valued at $5,778,000 after buying an additional 5,263 shares during the last quarter. Institutional investors own 66.33% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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