Public Service Enterprise Group (NYSE:PEG) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Public Service Enterprise Group (NYSE:PEG – Get Rating) in a report released on Thursday. The firm issued a hold rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of Public Service Enterprise Group from a c rating to a b rating in a research report on Tuesday, February 21st. BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a market perform rating on the stock in a research report on Monday, March 13th. Guggenheim cut their price objective on shares of Public Service Enterprise Group from $71.00 to $68.00 and set a buy rating on the stock in a research report on Wednesday, February 22nd. Wolfe Research cut shares of Public Service Enterprise Group from an outperform rating to a peer perform rating in a research report on Thursday, November 17th. Finally, Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $70.00 to $68.00 and set an overweight rating on the stock in a research report on Wednesday, February 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of Hold and an average price target of $67.20.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $58.53 on Thursday. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 10.04 and a beta of 0.55. Public Service Enterprise Group has a twelve month low of $52.51 and a twelve month high of $75.61. The stock has a fifty day simple moving average of $60.74 and a 200 day simple moving average of $60.14. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Public Service Enterprise Group had a net margin of 10.52% and a return on equity of 12.88%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Sell-side analysts expect that Public Service Enterprise Group will post 3.43 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a $0.57 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, March 9th. This represents a $2.28 annualized dividend and a yield of 3.90%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.

Insider Activity at Public Service Enterprise Group

In related news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $57.63, for a total value of $409,461.15. Following the transaction, the chief operating officer now owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC increased its stake in Public Service Enterprise Group by 1.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 12,911 shares of the utilities provider’s stock valued at $817,000 after buying an additional 166 shares during the last quarter. Kentucky Retirement Systems increased its stake in Public Service Enterprise Group by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 39,221 shares of the utilities provider’s stock valued at $2,403,000 after buying an additional 171 shares during the last quarter. Schechter Investment Advisors LLC increased its stake in Public Service Enterprise Group by 1.0% in the 3rd quarter. Schechter Investment Advisors LLC now owns 18,359 shares of the utilities provider’s stock valued at $1,032,000 after buying an additional 188 shares during the last quarter. Vantage Consulting Group Inc increased its stake in Public Service Enterprise Group by 5.1% in the 2nd quarter. Vantage Consulting Group Inc now owns 3,901 shares of the utilities provider’s stock valued at $247,000 after buying an additional 191 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in Public Service Enterprise Group by 3.0% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,653 shares of the utilities provider’s stock valued at $374,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.

About Public Service Enterprise Group

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.