BidaskClub upgraded shares of Public Service Enterprise Group Inc. (NYSE:PEG) from a hold rating to a buy rating in a research note released on Saturday.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Public Service Enterprise Group from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. Wolfe Research raised Public Service Enterprise Group from an underperform rating to a market perform rating in a research report on Monday, July 17th. Morgan Stanley increased their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an equal weight rating in a research report on Thursday, August 10th. Citigroup Inc. reissued a neutral rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $48.21.

Public Service Enterprise Group (NYSE PEG) opened at 47.11 on Friday. The firm has a 50-day moving average price of $44.92 and a 200-day moving average price of $44.41. The stock has a market cap of $23.83 billion, a PE ratio of 52.93 and a beta of 0.38. Public Service Enterprise Group has a 12-month low of $39.28 and a 12-month high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a return on equity of 3.37% and a net margin of 5.11%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. Analysts forecast that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.65%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now directly owns 748,121 shares in the company, valued at approximately $32,042,022.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PEG. Bronfman E.L. Rothschild L.P. increased its stake in shares of Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares during the last quarter. Hudock Capital Group LLC increased its stake in shares of Public Service Enterprise Group by 38.8% in the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after buying an additional 735 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the last quarter. Vantage Investment Advisors LLC increased its stake in shares of Public Service Enterprise Group by 35.3% in the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after buying an additional 700 shares during the last quarter. Finally, Kistler Tiffany Companies LLC increased its stake in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 65.96% 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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