Public Service Enterprise Group Incorporated (PEG) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Public Service Enterprise Group Incorporated (NYSE:PEG) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has $53.00 price target on the utilities provider’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Public Service Enterprise Group from a hold rating to a buy rating and set a $51.00 price target on the stock in a report on Wednesday, September 20th. BidaskClub raised shares of Public Service Enterprise Group from a hold rating to a buy rating in a report on Saturday, August 26th. Mizuho raised shares of Public Service Enterprise Group from a neutral rating to a buy rating and lifted their price target for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Citigroup Inc. reaffirmed a neutral rating and issued a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Finally, 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $49.05.

Public Service Enterprise Group (NYSE:PEG) opened at 46.19 on Thursday. The stock has a 50 day moving average price of $46.22 and a 200 day moving average price of $44.64. Public Service Enterprise Group has a 52-week low of $39.28 and a 52-week high of $47.47. The firm has a market cap of $23.37 billion, a P/E ratio of 51.90 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.72%. Public Service Enterprise Group’s payout ratio is 193.26%.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction on 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 accessible through this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the sale, the chairman now directly owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Insiders have sold a total of 54,900 shares of company stock worth $2,413,947 in the last three months. Insiders own 0.61% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Intl Fcstone Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $297,000. Griffin Asset Management Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $1,290,000. Lord Abbett & CO. LLC raised its holdings in Public Service Enterprise Group by 1.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 299,300 shares of the utilities provider’s stock valued at $12,873,000 after acquiring an additional 4,500 shares during the period. Sentry Investment Management LLC raised its holdings in Public Service Enterprise Group by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 39,158 shares of the utilities provider’s stock valued at $1,684,000 after acquiring an additional 410 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Public Service Enterprise Group by 25.4% during the 2nd quarter. Toronto Dominion Bank now owns 171,376 shares of the utilities provider’s stock valued at $7,369,000 after acquiring an additional 34,746 shares during the period. 65.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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