Public Service Enterprise Group (PEG) Given Buy Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Public Service Enterprise Group (NYSE:PEG) in a research note issued to investors on Wednesday. They currently have a $58.00 price objective on the utilities provider’s stock.

PEG has been the subject of several other research reports. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an equal weight rating in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a hold rating to a buy rating and set a $51.00 price objective for the company in a research report on Thursday, September 14th. Barclays upgraded shares of Public Service Enterprise Group from an equal weight rating to an overweight rating and upped their target price for the company from $49.00 to $51.00 in a research report on Friday, September 22nd. Evercore ISI upgraded shares of Public Service Enterprise Group from an in-line rating to an outperform rating and upped their target price for the company from $46.75 to $50.00 in a research report on Monday, September 25th. Finally, Royal Bank of Canada reiterated a hold rating and set a $47.00 target price on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $51.32.

Shares of Public Service Enterprise Group (NYSE:PEG) traded down $1.49 on Wednesday, hitting $49.25. The stock had a trading volume of 8,090,300 shares, compared to its average volume of 3,400,000. The firm has a market cap of $24,920.00, a P/E ratio of 48.28, a P/E/G ratio of 6.23 and a beta of 0.41. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group has a fifty-two week low of $41.67 and a fifty-two week high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. sell-side analysts anticipate that Public Service Enterprise Group will post 2.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, December 7th. Public Service Enterprise Group’s payout ratio is presently 168.63%.

In other news, insider Derek M. Dirisio sold 2,185 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 79,920 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $48.83, for a total transaction of $3,902,493.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,951 shares of company stock valued at $13,143,997. Company insiders own 0.61% of the company’s stock.

Several hedge funds have recently modified their holdings of PEG. Grove Bank & Trust raised its holdings in Public Service Enterprise Group by 209.4% in the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 1,539 shares during the period. Vantage Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 700 shares during the period. IHT Wealth Management LLC increased its holdings in shares of Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 202 shares during the period. YorkBridge Wealth Partners LLC increased its holdings in shares of Public Service Enterprise Group by 13.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 424 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Public Service Enterprise Group by 66.6% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,854 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 1,540 shares during the period. 66.65% of the stock is currently owned by institutional investors.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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