Public Service Enterprise Group (NYSE:PEG) Downgraded to “Neutral” Rating by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group (NYSE:PEG) from a buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. LADENBURG THALM/SH SH currently has $82.50 price target on the utilities provider’s stock.

A number of other research firms also recently commented on PEG. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.27.

Public Service Enterprise Group Trading Up 1.3 %

NYSE:PEG opened at $83.21 on Wednesday. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a one year low of $63.54 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The business’s 50-day simple moving average is $83.57 and its 200 day simple moving average is $86.02.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $0.54 EPS. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $25,000. REAP Financial Group LLC lifted its stake 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 worth $27,000 after acquiring an additional 162 shares during the period. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. 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.