Public Service Enterprise Group (PEG) Hits New 52-Week High at $60.47

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Shares of Public Service Enterprise Group Inc. (NYSE:PEG) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $60.47 and last traded at $60.44, with a volume of 75945 shares trading hands. The stock had previously closed at $60.05.

Several equities analysts have weighed in on PEG shares. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Wolfe Research upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 22nd. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Deutsche Bank cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target for the company. in a report on Thursday, February 28th. Finally, Wells Fargo & Co raised their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Public Service Enterprise Group presently has an average rating of “Buy” and an average target price of $59.73.

The firm has a market cap of $30.54 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 3.01 and a beta of 0.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same quarter in the previous year, the business earned $0.97 EPS. Analysts forecast that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, June 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

In other news, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $58.49, for a total value of $3,065,285.43. Following the completion of the transaction, the chairman now owns 464,006 shares in the company, valued at approximately $27,139,710.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $59.25, for a total value of $37,031.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,679 shares of company stock valued at $10,657,989. Company insiders own 0.51% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Caxton Associates LP bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $264,000. Candriam Luxembourg S.C.A. lifted its stake in shares of Public Service Enterprise Group by 50.8% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 55,187 shares of the utilities provider’s stock worth $2,872,000 after acquiring an additional 18,581 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Public Service Enterprise Group by 12.1% during the 4th quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 284 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Public Service Enterprise Group by 7.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the utilities provider’s stock worth $4,761,000 after acquiring an additional 6,081 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Public Service Enterprise Group by 51.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 81,154 shares of the utilities provider’s stock worth $4,224,000 after acquiring an additional 27,740 shares during the last quarter. Hedge funds and other institutional investors own 68.69% of the company’s stock.

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About Public Service Enterprise Group (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; 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.

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