Public Service Enterprise Group (NYSE:PEG) Hits New 52-Week High at $66.12

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $66.12 and last traded at $66.12, with a volume of 127491 shares. The stock had previously closed at $65.32.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Bank of America raised their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. Barclays increased their price objective on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus target price of $66.38.

Public Service Enterprise Group Stock Up 1.7 %

The company has a market capitalization of $33.23 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.86 and a beta of 0.57. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $60.99 and a 200-day simple moving average of $61.12.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $0.60 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, March 7th. This represents a $2.40 annualized dividend and a yield of 3.60%. Public Service Enterprise Group’s payout ratio is presently 46.78%.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 6,574 shares of company stock valued at $419,108 in the last quarter. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of the company. Rockline Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $1,185,000. PATRIZIA Pty Ltd acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $5,158,000. Xponance Inc. increased its holdings in shares of Public Service Enterprise Group by 4.6% during the third quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock valued at $3,655,000 after acquiring an additional 2,825 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Public Service Enterprise Group by 97.7% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 140,087 shares of the utilities provider’s stock worth $8,566,000 after acquiring an additional 69,236 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Public Service Enterprise Group by 58.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,477 shares of the utilities provider’s stock valued at $22,620,000 after acquiring an additional 146,463 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.