Wolfe Research cut shares of Public Service Enterprise Group (NYSE:PEG) from an outperform rating to a peer perform rating in a research report report published on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has $64.00 target price on the utilities provider’s stock.
Several other brokerages also recently commented on PEG. ValuEngine downgraded shares of Public Service Enterprise Group from a buy rating to a hold rating in a research note on Thursday, August 1st. Barclays initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday, August 13th. They issued an overweight rating and a $63.00 target price for the company. Citigroup downgraded shares of Public Service Enterprise Group from a buy rating to a neutral rating and set a $61.00 target price for the company. in a research note on Monday, July 29th. Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a sector perform rating in a research note on Thursday, October 3rd. Finally, Bank of America downgraded shares of Public Service Enterprise Group from a buy rating to a neutral rating and set a $65.00 target price for the company. in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $63.23.
NYSE:PEG traded up $0.11 during trading hours on Thursday, hitting $61.00. The stock had a trading volume of 1,510,762 shares, compared to its average volume of 2,457,898. Public Service Enterprise Group has a one year low of $49.22 and a one year high of $63.88. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.52 and a current ratio of 0.75. The company has a market cap of $30.65 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 5.05 and a beta of 0.28. The business’s 50 day moving average is $62.05 and its 200-day moving average is $60.27.
In other news, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $63.05, for a total value of $104,032.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $60.82, for a total transaction of $38,012.50. Following the completion of the transaction, the chief financial officer now owns 59,137 shares of the company’s stock, valued at approximately $3,596,712.34. The disclosure for this sale can be found here. Insiders sold 8,576 shares of company stock valued at $525,939 in the last quarter. Corporate insiders own 0.51% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PEG. Bank of Nova Scotia boosted its holdings in Public Service Enterprise Group by 0.4% during the second quarter. Bank of Nova Scotia now owns 340,044 shares of the utilities provider’s stock worth $20,001,000 after purchasing an additional 1,505 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Public Service Enterprise Group by 3.6% in the second quarter. Daiwa Securities Group Inc. now owns 20,177 shares of the utilities provider’s stock valued at $1,187,000 after acquiring an additional 700 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at $90,000. Elkfork Partners LLC lifted its stake in Public Service Enterprise Group by 44.4% in the second quarter. Elkfork Partners LLC now owns 44,200 shares of the utilities provider’s stock valued at $2,600,000 after acquiring an additional 13,600 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Public Service Enterprise Group by 0.8% in the second quarter. First Trust Advisors LP now owns 1,177,977 shares of the utilities provider’s stock valued at $69,289,000 after acquiring an additional 9,824 shares during the last quarter. Institutional investors own 69.01% 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; 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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