Public Service Enterprise Group (NYSE:PEG) Reaches New 52-Week High at $67.14

Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report)’s share price hit a new 52-week high on Tuesday . The company traded as high as $67.14 and last traded at $67.10, with a volume of 96997 shares. The stock had previously closed at $66.64.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Bank of America increased their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Royal Bank of Canada increased their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.91.

Get Our Latest Research Report on Public Service Enterprise Group

Public Service Enterprise Group Stock Up 0.3 %

The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.90 and a beta of 0.58. 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 stock has a fifty day moving average of $61.82 and a two-hundred day moving average of $61.32.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock worth $510,300 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after buying an additional 726,613 shares during the last quarter. State Street Corp increased its holdings in Public Service Enterprise Group by 1.1% in the second quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock valued at $1,904,648,000 after buying an additional 324,392 shares during the last quarter. Geode Capital Management LLC increased its holdings in Public Service Enterprise Group by 2.2% in the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock valued at $638,876,000 after buying an additional 221,305 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Public Service Enterprise Group by 8.4% in the fourth quarter. Legal & General Group Plc now owns 7,638,084 shares of the utilities provider’s stock valued at $467,068,000 after buying an additional 588,839 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

(Get Free Report)

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.

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