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

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

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $62.00 in a research note on Tuesday, April 23rd. Mizuho lifted their price target on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Wells Fargo & Co lifted their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $59.73.

The company has a market capitalization of $30.00 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.40. The company has a quick ratio of 0.52, a current ratio of 0.68 and a debt-to-equity ratio of 0.91.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates 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 company posted $0.97 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current fiscal year.

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

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 13,535 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.04, for a total transaction of $812,641.40. Following the transaction, the executive vice president now owns 49,909 shares of the company’s stock, valued at $2,996,536.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stuart J. Black sold 6,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.07, for a total value of $354,420.00. Following the transaction, the vice president now directly owns 24,981 shares in the company, valued at approximately $1,475,627.67. The disclosure for this sale can be found here. Insiders have sold 180,679 shares of company stock worth $10,657,989 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc raised its position in Public Service Enterprise Group by 1.4% in the third quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock valued at $2,126,450,000 after purchasing an additional 545,315 shares during the period. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 6.6% in the first quarter. Geode Capital Management LLC now owns 6,960,822 shares of the utilities provider’s stock valued at $412,811,000 after purchasing an additional 433,495 shares during the period. Northern Trust Corp raised its position in Public Service Enterprise Group by 3.2% in the first quarter. Northern Trust Corp now owns 6,166,408 shares of the utilities provider’s stock valued at $366,346,000 after purchasing an additional 191,442 shares during the period. AQR Capital Management LLC raised its position in Public Service Enterprise Group by 16.0% in the first quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock valued at $321,130,000 after purchasing an additional 752,831 shares during the period. Finally, FMR LLC raised its position in Public Service Enterprise Group by 1.0% in the first quarter. FMR LLC now owns 5,215,929 shares of the utilities provider’s stock valued at $309,879,000 after purchasing an additional 52,334 shares during the period. Institutional investors own 68.69% of the company’s stock.

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Public Service Enterprise Group Company Profile (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.

See Also: Retained Earnings

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