Public Service Enterprise Group Inc. (NYSE:PEG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer stable earnings and significant long-term growth potential. It continues to emphasize on building a strong transmission and distribution infrastructure. Its consistent capital investment plans backed by a stable liquidity position, will likely boost Public Service Enterprise’s future performance. The company’s focus on expanding its renewable capacity will also boost its growth trajectory. However, environmental issues, such as restrictions on carbon dioxide emissions and other pollutants produced by Public Service Enterprise’s fossil units, might increase compliance-related costs. Again, commodity price volatility and extensive regulation by federal, state and local agencies could be a setback for the company.”

PEG has been the subject of a number of other reports. Argus dropped their price target on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Deutsche Bank AG reiterated a “hold” rating and issued a $47.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, June 15th. Barclays PLC upped their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Finally, Morgan Stanley upgraded shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $43.00 to $47.00 in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.75.

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

Shares of Public Service Enterprise Group (NYSE:PEG) traded up 0.3856% during midday trading on Wednesday, reaching $40.7465. 787,873 shares of the company’s stock were exchanged. The stock has a market cap of $20.61 billion, a PE ratio of 14.7099 and a beta of 0.25. Public Service Enterprise Group has a 12-month low of $36.80 and a 12-month high of $47.41. The stock’s 50 day moving average is $42.31 and its 200-day moving average is $44.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a return on equity of 10.71% and a net margin of 14.82%. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities analysts expect that Public Service Enterprise Group will post $2.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Wednesday, September 7th. Public Service Enterprise Group’s payout ratio is 59.21%.

In related news, COO William Levis sold 7,500 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $43.73, for a total transaction of $327,975.00. Following the sale, the chief operating officer now owns 156,671 shares of the company’s stock, valued at $6,851,222.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 25,993 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $41.36, for a total transaction of $1,075,070.48. Following the sale, the chairman now directly owns 727,346 shares in the company, valued at approximately $30,083,030.56. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PEG. Bruderman Asset Management LLC increased its stake in shares of Public Service Enterprise Group by 5.3% in the second quarter. Bruderman Asset Management LLC now owns 2,528 shares of the company’s stock valued at $118,000 after buying an additional 128 shares in the last quarter. Huntington National Bank increased its stake in shares of Public Service Enterprise Group by 10.3% in the second quarter. Huntington National Bank now owns 2,537 shares of the company’s stock valued at $119,000 after buying an additional 237 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Public Service Enterprise Group by 10.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,850 shares of the company’s stock valued at $133,000 after buying an additional 279 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $135,000. Finally, Global X Management Co. LLC increased its stake in shares of Public Service Enterprise Group by 153.4% in the second quarter. Global X Management Co. LLC now owns 2,914 shares of the company’s stock valued at $136,000 after buying an additional 1,764 shares in the last quarter. 66.37% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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