Public Service Enterprise Group (NYSE:PEG) had its target price trimmed by Wells Fargo & Co from $63.00 to $60.00 in a report published on Monday morning. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the company. ValuEngine upgraded Public Service Enterprise Group from a hold rating to a buy rating in a research note on Tuesday, June 26th. Deutsche Bank lowered Public Service Enterprise Group from a buy rating to a hold rating in a research note on Tuesday, July 3rd. Mizuho reiterated a hold rating and issued a $50.00 price objective on shares of Public Service Enterprise Group in a research note on Monday, August 6th. Citigroup upped their price objective on Public Service Enterprise Group from $53.00 to $54.00 and gave the company a neutral rating in a research note on Monday, July 9th. Finally, Goldman Sachs Group lowered Public Service Enterprise Group from a buy rating to a neutral rating and lowered their price objective for the company from $55.00 to $53.00 in a research note on Thursday, July 19th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $53.10.

Public Service Enterprise Group stock opened at $53.54 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.89 and a beta of 0.32. Public Service Enterprise Group has a 12 month low of $45.05 and a 12 month high of $54.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the company posted $0.62 EPS. analysts expect that Public Service Enterprise Group will post 3.09 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.80 dividend on an annualized basis and a yield of 3.36%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.

In related news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $50.60, for a total transaction of $1,054,149.80. Following the sale, the chairman now directly owns 557,716 shares in the company, valued at approximately $28,220,429.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 91,495 shares of company stock worth $4,797,012. 0.58% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $811,000. Toronto Dominion Bank boosted its position in Public Service Enterprise Group by 19.3% in the 2nd quarter. Toronto Dominion Bank now owns 324,730 shares of the utilities provider’s stock valued at $17,577,000 after buying an additional 52,549 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Public Service Enterprise Group by 3.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 30,718 shares of the utilities provider’s stock valued at $1,663,000 after buying an additional 993 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Public Service Enterprise Group by 6.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 17,752 shares of the utilities provider’s stock valued at $961,000 after buying an additional 1,008 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its position in Public Service Enterprise Group by 3.5% in the 2nd quarter. Twin Capital Management Inc. now owns 175,210 shares of the utilities provider’s stock valued at $9,486,000 after buying an additional 5,880 shares during the last quarter. Institutional investors and hedge funds own 68.41% 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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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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