Public Service Enterprise Group (NYSE:PEG) Reaches New 12-Month High at $62.60

Public Service Enterprise Group Inc. (NYSE:PEG) shares hit a new 52-week high on Monday . The stock traded as high as $62.60 and last traded at $62.16, with a volume of 1352929 shares changing hands. The stock had previously closed at $62.28.

Several brokerages have recently weighed in on PEG. Mizuho upped their price target on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upped their price target on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on Public Service Enterprise Group from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, UBS Group upped their price target on Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Public Service Enterprise Group has a consensus rating of “Buy” and an average target price of $63.00.

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. The company has a market cap of $31.49 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 6.39 and a beta of 0.30. The company has a fifty day moving average price of $60.85 and a 200 day moving average price of $59.75.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the firm posted $0.64 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, September 6th. Public Service Enterprise Group’s payout ratio is 60.26%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $57.18, for a total value of $2,996,632.26. Following the completion of the sale, the chairman now owns 373,588 shares of the company’s stock, valued at $21,361,761.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel J. Cregg sold 625 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $60.45, for a total value of $37,781.25. Following the completion of the sale, the chief financial officer now directly owns 60,208 shares of the company’s stock, valued at approximately $3,639,573.60. The disclosure for this sale can be found here. Insiders have sold 61,408 shares of company stock valued at $3,535,381 in the last three months. 0.51% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Berman Capital Advisors LLC boosted its stake in Public Service Enterprise Group by 79.0% in the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after buying an additional 203 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $29,000. Thor Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $45,000. Executive Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group by 137.4% during the second quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 452 shares during the period. Finally, San Francisco Sentry Investment Group CA boosted its stake in shares of Public Service Enterprise Group by 357.4% during the second quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 747 shares during the period. 69.37% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: How to Invest in Growth Stocks

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.