Investors Buy Shares of Public Service Enterprise Group (PEG) on Weakness

Traders purchased shares of Public Service Enterprise Group Incorporated (NYSE:PEG) on weakness during trading hours on Tuesday. $109.34 million flowed into the stock on the tick-up and $48.71 million flowed out of the stock on the tick-down, for a money net flow of $60.63 million into the stock. Of all stocks tracked, Public Service Enterprise Group had the 10th highest net in-flow for the day. Public Service Enterprise Group traded down ($0.18) for the day and closed at $49.63

PEG has been the subject of a number of research reports. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, September 14th. Morgan Stanley raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Thursday, September 21st. They noted that the move was a valuation call. Barclays raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.00 to $51.00 in a report on Friday, September 22nd. Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $46.75 to $50.00 in a research note on Monday, September 25th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $47.00 price target on shares of Public Service Enterprise Group in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and an average target price of $51.32.

The stock has a market capitalization of $25,000.00, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 6.06 and a beta of 0.41. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. Public Service Enterprise Group’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. sell-side analysts predict that Public Service Enterprise Group Incorporated will post 2.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were given a $0.43 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.48%. Public Service Enterprise Group’s payout ratio is currently 168.63%.

In related news, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Ralph Izzo sold 6,427 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $49.45, for a total transaction of $317,815.15. Following the sale, the chairman now owns 708,728 shares in the company, valued at $35,046,599.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,031 shares of company stock worth $9,241,504. 0.61% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PEG. Advisory Services Network LLC boosted its holdings in shares of Public Service Enterprise Group by 11.7% during the second quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock worth $221,000 after purchasing an additional 541 shares during the period. Rench Wealth Management Inc. lifted its stake in shares of Public Service Enterprise Group by 1.1% in the second quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock worth $1,856,000 after buying an additional 470 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Public Service Enterprise Group in the third quarter worth $340,000. People s United Financial Inc. increased its position in Public Service Enterprise Group by 174.1% during the second quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after acquiring an additional 5,119 shares during the period. Finally, Reaves W H & Co. Inc. bought a new position in Public Service Enterprise Group during the third quarter worth $22,266,000. 66.67% of the stock is currently owned by institutional investors.

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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.

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