Public Service Enterprise Group (NYSE:PEG) Reaches New 1-Year High at $67.81

Public Service Enterprise Group Incorporated (NYSE:PEG) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $67.81 and last traded at $67.77, with a volume of 599945 shares. The stock had previously closed at $67.23.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Bank of America raised their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Barclays increased their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Stock Performance

The company has a market cap of $33.95 billion, a PE ratio of 13.11, a PEG ratio of 2.91 and a beta of 0.58. The business’s 50-day moving average is $64.31 and its 200 day moving average is $62.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company’s revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock valued at $511,814 in the last quarter. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of PEG. CWM LLC boosted its stake in Public Service Enterprise Group by 4.1% during the third quarter. CWM LLC now owns 11,893 shares of the utilities provider’s stock worth $677,000 after acquiring an additional 472 shares in the last quarter. IFP Advisors Inc raised its holdings in Public Service Enterprise Group by 16.9% in the third quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock worth $94,000 after buying an additional 239 shares during the last quarter. Czech National Bank raised its holdings in Public Service Enterprise Group by 47.7% in the third quarter. Czech National Bank now owns 87,234 shares of the utilities provider’s stock worth $4,964,000 after buying an additional 28,167 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in Public Service Enterprise Group by 35.2% in the third quarter. Spirit of America Management Corp NY now owns 9,600 shares of the utilities provider’s stock worth $546,000 after buying an additional 2,500 shares during the last quarter. Finally, Quaker Wealth Management LLC raised its holdings in Public Service Enterprise Group by 17.9% in the third quarter. Quaker Wealth Management LLC now owns 4,602 shares of the utilities provider’s stock worth $262,000 after buying an additional 700 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.