Public Service Enterprise Group (NYSE:PEG) Cut to “Neutral” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group (NYSE:PEG) from a buy rating to a neutral rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $82.50 target price on the utilities provider’s stock.

PEG has been the topic of a number of other reports. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Scotiabank lifted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.27.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.21 on Wednesday. The company has a 50-day moving average of $83.57 and a 200-day moving average of $86.02. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a twelve month low of $63.54 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. Analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC boosted its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.