Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $83.00 at BMO Capital Markets

Public Service Enterprise Group (NYSE:PEG) had its price target cut by BMO Capital Markets from $86.00 to $83.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus price target of $89.35.

Public Service Enterprise Group Stock Down 0.8 %

PEG stock opened at $81.21 on Thursday. The firm has a market cap of $40.49 billion, a PE ratio of 19.95, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a fifty day simple moving average of $81.96 and a 200 day simple moving average of $85.76. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Edge Wealth Management LLC lifted its stake in Public Service Enterprise Group by 2.2% during the first quarter. Edge Wealth Management LLC now owns 118,133 shares of the utilities provider’s stock worth $9,722,000 after purchasing an additional 2,556 shares during the period. Armstrong Fleming & Moore Inc acquired a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $342,000. Breakwater Capital Group lifted its position in shares of Public Service Enterprise Group by 27.0% during the 1st quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider’s stock worth $601,000 after buying an additional 1,551 shares during the period. Apella Capital LLC boosted its stake in Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider’s stock valued at $443,000 after buying an additional 144 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Public Service Enterprise Group by 4.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 44,505 shares of the utilities provider’s stock valued at $3,663,000 after acquiring an additional 1,777 shares during the period. 73.34% of the stock is owned by institutional investors.

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.