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

LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group (NYSE:PEG) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. LADENBURG THALM/SH SH currently has $82.50 price objective on the utilities provider’s stock.

PEG has been the topic of a number of other reports. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Bank of America dropped their price target on 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. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Trading Down 0.4 %

Shares of Public Service Enterprise Group stock opened at $83.00 on Wednesday. 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 has a twelve month low of $64.03 and a twelve month high of $95.22. The firm has a market capitalization of $41.38 billion, a PE ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The firm’s 50-day moving average price is $83.50 and its 200 day moving average price is $86.02.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PEG. Empowered Funds LLC grew its stake in shares of Public Service Enterprise Group by 7.7% during 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 shares of Public Service Enterprise Group during the 3rd quarter worth about $293,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $2,258,000. Premier Fund Managers Ltd lifted its stake in Public Service Enterprise Group by 8.3% during 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 during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at approximately $2,498,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.