Public Service Enterprise Group (PEG) PT Raised to $52.00 at JPMorgan Chase

Public Service Enterprise Group (NYSE:PEG) had its price target boosted by JPMorgan Chase from $50.00 to $52.00 in a research note published on Tuesday. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently commented on PEG. Zacks Investment Research raised Public Service Enterprise Group from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Monday, March 12th. Mizuho cut Public Service Enterprise Group from a buy rating to a neutral rating in a research report on Monday, February 5th. They noted that the move was a valuation call. Royal Bank of Canada reissued a hold rating and set a $52.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, March 14th. Wells Fargo reissued an outperform rating and set a $56.00 price target (down from $59.00) on shares of Public Service Enterprise Group in a research report on Monday, February 26th. Finally, Morgan Stanley reduced their price target on Public Service Enterprise Group from $54.00 to $52.00 and set an overweight rating for the company in a research report on Tuesday, February 13th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $51.61.

Shares of NYSE PEG opened at $49.88 on Tuesday. Public Service Enterprise Group has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The company has a market cap of $24,955.57, a P/E ratio of 17.02, a P/E/G ratio of 4.03 and a beta of 0.39.



Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Public Service Enterprise Group had a return on equity of 11.25% and a net margin of 17.33%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. equities research analysts anticipate that Public Service Enterprise Group will post 3.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 8th were paid a $0.45 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 7th. This represents a $1.80 annualized dividend and a yield of 3.61%. Public Service Enterprise Group’s dividend payout ratio is currently 61.43%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $48.36, for a total value of $1,007,483.88. Following the sale, the chairman now owns 652,180 shares in the company, valued at $31,539,424.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 62,499 shares of company stock worth $3,109,534 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PEG. Jennison Associates LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $69,638,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Public Service Enterprise Group by 258.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,798,069 shares of the utilities provider’s stock worth $92,601,000 after purchasing an additional 1,296,790 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Public Service Enterprise Group by 646.7% during the fourth quarter. State of Tennessee Treasury Department now owns 1,175,992 shares of the utilities provider’s stock worth $60,564,000 after purchasing an additional 1,018,491 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Public Service Enterprise Group by 14.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,947,022 shares of the utilities provider’s stock worth $357,772,000 after purchasing an additional 892,228 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Public Service Enterprise Group by 1.4% during the fourth quarter. BlackRock Inc. now owns 48,420,436 shares of the utilities provider’s stock worth $2,493,654,000 after purchasing an additional 674,875 shares during the period. Hedge funds and other institutional investors own 68.37% of the company’s stock.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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