Public Service Enterprise Group (NYSE:PEG) Rating Increased to Hold at StockNews.com

Public Service Enterprise Group (NYSE:PEG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts also recently commented on the company. Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Scotiabank increased their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, BMO Capital Markets raised their price target on 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. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Trading Up 0.2 %

NYSE:PEG opened at $79.74 on Friday. Public Service Enterprise Group has a twelve month low of $63.31 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average price of $83.83 and a two-hundred day moving average price of $85.94. The company has a market cap of $39.76 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share 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 the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Company Profile

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.