Wolfe Research Lowers Public Service Enterprise Group (NYSE:PEG) to Peer Perform

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.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, sell-side analysts anticipate that Public Service Enterprise Group will post 3.25 EPS for the current fiscal year.

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

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