Public Service Enterprise Group (PEG) Downgraded to Hold at ValuEngine

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ValuEngine downgraded shares of Public Service Enterprise Group (NYSE:PEG) from a buy rating to a hold rating in a research report released on Saturday morning.

PEG has been the topic of a number of other research reports. Zacks Investment Research upgraded Public Service Enterprise Group from a hold rating to a buy rating and set a $57.00 price target on the stock in a research report on Tuesday, January 15th. Macquarie increased their price target on Public Service Enterprise Group from $55.50 to $57.00 and gave the stock an outperform rating in a research report on Monday, September 24th. Mizuho upgraded Public Service Enterprise Group from a neutral rating to a buy rating and set a $52.50 price target on the stock in a research report on Thursday. Deutsche Bank lowered their price target on Public Service Enterprise Group from $58.00 to $57.00 and set a hold rating on the stock in a research report on Wednesday, October 31st. Finally, reiterated a buy rating on shares of Public Service Enterprise Group in a research report on Monday, November 5th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Public Service Enterprise Group has an average rating of Buy and an average target price of $57.04.

Shares of PEG stock traded down $0.27 during mid-day trading on Friday, reaching $51.94. The stock had a trading volume of 4,096,943 shares, compared to its average volume of 3,021,120. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.72. The firm has a market capitalization of $26.25 billion, a PE ratio of 17.73, a P/E/G ratio of 2.37 and a beta of 0.39. Public Service Enterprise Group has a 1-year low of $46.19 and a 1-year high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Sell-side analysts forecast that Public Service Enterprise Group will post 3.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Friday, December 7th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, December 6th. This represents a $1.80 annualized dividend and a yield of 3.47%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 61.43%.

In other news, insider Derek M. Dirisio sold 2,300 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total transaction of $121,946.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 52,406 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $50.87, for a total value of $2,665,893.22. Following the transaction, the chairman now owns 462,726 shares of the company’s stock, valued at $23,538,871.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,565 shares of company stock valued at $9,857,367. 0.58% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEG. Capital International Investors purchased a new position in shares of Public Service Enterprise Group during the third quarter worth $493,441,000. Robeco Institutional Asset Management B.V. boosted its holdings in Public Service Enterprise Group by 100.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,468,152 shares of the utilities provider’s stock valued at $185,421,000 after purchasing an additional 1,734,031 shares during the period. Unigestion Holding SA boosted its holdings in Public Service Enterprise Group by 292.0% in the third quarter. Unigestion Holding SA now owns 1,496,229 shares of the utilities provider’s stock valued at $78,985,000 after purchasing an additional 1,114,566 shares during the period. Zimmer Partners LP purchased a new position in Public Service Enterprise Group in the third quarter valued at $51,559,000. Finally, Allianz Asset Management GmbH boosted its holdings in Public Service Enterprise Group by 30.3% in the third quarter. Allianz Asset Management GmbH now owns 4,180,455 shares of the utilities provider’s stock valued at $220,686,000 after purchasing an additional 972,414 shares during the period. Institutional investors and hedge funds own 67.80% of the company’s stock.

About Public Service Enterprise Group

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; and 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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