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

Public Service Enterprise Group (NYSE:PEG) was downgraded by LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research note issued to investors 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 indicates a potential downside of 0.98% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price 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. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Seven 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $83.32 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. The stock has a 50 day simple moving average of $83.53 and a 200-day simple moving average of $86.01. The company has a market cap 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 12-month low of $63.68 and a 12-month high of $95.22.

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 the consensus estimate 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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group 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 shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in shares of Public Service Enterprise Group by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock valued at $746,000 after acquiring an additional 597 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $293,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,258,000. Premier Fund Managers Ltd grew its holdings in shares of Public Service Enterprise Group by 8.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 32,500 shares of the utilities provider’s stock valued at $2,868,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,498,000. 73.34% of the stock is currently owned by hedge funds and other 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.