Public Service Enterprise Group (NYSE:PEG) Sets New 52-Week High at $85.93

Public Service Enterprise Group Incorporated (NYSE:PEG) reached a new 52-week high during trading on Friday . The stock traded as high as $85.93 and last traded at $85.90, with a volume of 1576345 shares trading hands. The stock had previously closed at $83.44.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Stock Performance

The company has a market cap of $42.73 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 3.03 and a beta of 0.60. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $79.49 and its 200 day moving average price is $73.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,068 shares of company stock valued at $2,406,965. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the second quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $36,000. Salomon & Ludwin LLC lifted its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $41,000. 73.34% of the stock is owned by 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.