Public Service Enterprise Group Inc. (NYSE:PEG) shares reached a new 52-week high during mid-day trading on Thursday after Mizuho raised their price target on the stock from $54.00 to $61.50. Mizuho currently has a buy rating on the stock. Public Service Enterprise Group traded as high as $59.95 and last traded at $59.71, with a volume of 55788 shares changing hands. The stock had previously closed at $59.51.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, January 15th. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective for the company. in a research note on Thursday, February 28th. Wells Fargo & Co upped their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Finally, Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.10.
In other Public Service Enterprise Group news, VP Stuart J. Black sold 6,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.07, for a total transaction of $354,420.00. Following the completion of the sale, the vice president now owns 24,981 shares of the company’s stock, valued at approximately $1,475,627.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $54.31, for a total transaction of $2,846,224.17. The disclosure for this sale can be found here. Insiders have sold a total of 163,219 shares of company stock valued at $8,962,684 in the last three months. Insiders own 0.58% of the company’s stock.
The stock has a market capitalization of $30.12 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.71.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. During the same quarter in the prior year, the business posted $0.57 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.47 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.26%.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4224735/public-service-enterprise-group-peg-sets-new-52-week-high-after-analyst-upgrade.html.
Public Service Enterprise Group Company Profile (NYSE:PEG)
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
Further Reading: What is a Leveraged Buyout (LBO)?
Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.