Public Service Enterprise Group (NYSE:PEG) Hits New 12-Month High – Should You Buy?

Public Service Enterprise Group Incorporated (NYSE:PEG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $94.67 and last traded at $94.51, with a volume of 2657651 shares trading hands. The stock had previously closed at $93.02.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank upped their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Trading Down 0.3 %

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $46.93 billion, a P/E ratio of 23.15, a PEG ratio of 3.41 and a beta of 0.61. The stock has a fifty day moving average of $89.15 and a 200 day moving average of $81.19.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.55%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock valued at $2,467,753 over the last three months. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after acquiring an additional 147,903 shares in the last quarter. Tidal Investments LLC boosted its stake in Public Service Enterprise Group by 26.9% in the third quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider’s stock valued at $1,455,000 after acquiring an additional 3,461 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Public Service Enterprise Group by 30.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 2,384 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group during the third quarter worth $2,860,000. Finally, World Investment Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth $4,403,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.