Shares of Public Service Enterprise Group Inc. (NYSE:PEG) have earned a consensus recommendation of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $56.83.
Several equities research analysts have weighed in on the company. Mizuho restated a “hold” rating and set a $50.00 price target on shares of Public Service Enterprise Group in a report on Monday, August 6th. Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, October 9th. Morgan Stanley cut their price target on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, September 21st. Argus upped their price target on Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Finally, MED restated a “buy” rating on shares of Public Service Enterprise Group in a report on Monday, November 5th.
NYSE PEG traded up $1.38 during trading hours on Thursday, hitting $55.90. 3,922,786 shares of the company were exchanged, compared to its average volume of 3,229,283. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.72 and a quick ratio of 0.51. Public Service Enterprise Group has a 52-week low of $46.19 and a 52-week high of $56.68. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.22%. Public Service Enterprise Group’s dividend payout ratio is currently 61.43%.
In other news, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $53.02, for a total transaction of $121,946.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $52.57, for a total value of $2,755,035.99. Following the transaction, the chairman now directly owns 558,073 shares of the company’s stock, valued at $29,337,897.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,942 shares of company stock valued at $8,272,885. Insiders own 0.58% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Public Service Enterprise Group by 0.3% during the 3rd quarter. BlackRock Inc. now owns 48,101,184 shares of the utilities provider’s stock worth $2,539,261,000 after acquiring an additional 138,508 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after acquiring an additional 545,315 shares in the last quarter. Capital International Investors acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at about $493,441,000. Northern Trust Corp boosted its position in shares of Public Service Enterprise Group by 1.3% in the 2nd quarter. Northern Trust Corp now owns 5,783,332 shares of the utilities provider’s stock valued at $313,109,000 after purchasing an additional 71,786 shares during the period. Finally, FMR LLC boosted its position in shares of Public Service Enterprise Group by 11.8% in the 3rd quarter. FMR LLC now owns 5,397,856 shares of the utilities provider’s stock valued at $284,953,000 after purchasing an additional 568,786 shares during the period. 67.35% of the stock is owned by institutional investors and hedge funds.
Public Service Enterprise Group Company Profile
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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