Public Service Enterprise Group Incorporated (PEG) Given “Hold” Rating at Royal Bank Of Canada

Royal Bank Of Canada reiterated their hold rating on shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in a report released on Tuesday morning. Royal Bank Of Canada currently has a $47.00 price target on the utilities provider’s stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an equal weight rating in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) restated a buy rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a hold rating to a buy rating and set a $48.00 price objective for the company in a report on Tuesday, July 4th. BidaskClub downgraded shares of Public Service Enterprise Group from a sell rating to a strong sell rating in a report on Saturday, June 24th. Finally, Wolfe Research upgraded shares of Public Service Enterprise Group from an underperform rating to a market perform rating in a report on Monday, July 17th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $49.29.

Shares of Public Service Enterprise Group (NYSE PEG) opened at 48.21 on Tuesday. The company has a market cap of $24.39 billion, a P/E ratio of 54.17 and a beta of 0.38. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $48.30. The company’s 50 day moving average is $46.54 and its 200 day moving average is $44.86.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company posted $0.57 earnings per share. On average, equities analysts predict that Public Service Enterprise Group will post $2.92 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.72 annualized dividend and a yield of 3.57%. Public Service Enterprise Group’s payout ratio is presently 193.26%.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,733 shares of company stock valued at $2,097,782. 0.61% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. KBC Group NV lifted its position in Public Service Enterprise Group by 1.2% during the second quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after purchasing an additional 617 shares during the last quarter. FMR LLC raised its stake in shares of Public Service Enterprise Group by 1.9% during the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock worth $96,088,000 after acquiring an additional 40,125 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Public Service Enterprise Group by 4.1% during the second quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock worth $5,778,000 after acquiring an additional 5,263 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 3.4% during the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after acquiring an additional 1,144,077 shares in the last quarter. Finally, Airain ltd purchased a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $5,205,000. Institutional investors and hedge funds own 65.88% of the company’s stock.

About Public Service Enterprise Group

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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