Public Service Enterprise Group (NYSE:PEG) Cut to Neutral at LADENBURG THALM/SH SH

Public Service Enterprise Group (NYSE:PEG) was downgraded by research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $82.50 price target on the utilities provider’s stock. LADENBURG THALM/SH SH’s target price would suggest a potential downside of 0.98% from the stock’s current price.

PEG has been the subject of a number of other reports. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Trading Up 0.2 %

Shares of NYSE:PEG opened at $83.32 on Wednesday. The stock has a market capitalization of $41.54 billion, a PE ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a 1 year low of $63.68 and a 1 year high of $95.22. The firm has a fifty day moving average price of $83.53 and a 200 day moving average price of $86.01. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PEG. Empowered Funds LLC raised its position in Public Service Enterprise Group by 7.7% in the third quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock worth $746,000 after purchasing an additional 597 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in Public Service Enterprise Group in the third quarter worth about $293,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Public Service Enterprise Group in the third quarter worth about $2,258,000. Premier Fund Managers Ltd raised its position in Public Service Enterprise Group by 8.3% in the third quarter. Premier Fund Managers Ltd now owns 32,500 shares of the utilities provider’s stock worth $2,868,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Public Service Enterprise Group in the third quarter worth about $2,498,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.