Public Service Enterprise Group (NYSE:PEG) Hits New 12-Month High at $67.81

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

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Scotiabank reduced their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Finally, Evercore ISI upped their price target on 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. One equities 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 stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Trading Down 0.4 %

The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a market cap of $33.81 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.58. The business has a 50 day moving average price of $64.64 and a 200-day moving average price of $62.28.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 3.54%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, 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. Over the last 90 days, insiders sold 7,948 shares of company stock valued at $511,814. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. Operose Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $36,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $36,000. Finally, CNB Bank acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $34,000. Institutional investors 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.