Public Service Enterprise Group (NYSE:PEG) Upgraded by StockNews.com to Hold Rating

Public Service Enterprise Group (NYSE:PEG) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

PEG has been the subject of a number of other reports. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.59 on Friday. Public Service Enterprise Group has a 12-month low of $63.31 and a 12-month high of $95.22. The stock has a market cap of $40.68 billion, a P/E ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. The company has a 50-day moving average price of $83.74 and a 200 day moving average price of $85.98. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business earned $0.54 earnings per share. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.