Public Service Enterprise Group Incorporated (NYSE:PEG) had its target price upped by J P Morgan Chase & Co from $49.00 to $53.00 in a research report sent to investors on Thursday morning. The firm currently has an overweight rating on the utilities provider’s stock.

PEG has been the subject of a number of other reports. Zacks Investment Research lowered shares of Public Service Enterprise Group from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a hold rating and set a $46.50 price target on shares of Public Service Enterprise Group in a research report on Thursday. Barclays PLC upgraded shares of Public Service Enterprise Group from an equal weight rating to an overweight rating and boosted their price target for the company from $49.00 to $51.00 in a research report on Friday, September 22nd. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada restated a hold rating and set a $47.00 price target on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $49.79.

Public Service Enterprise Group (NYSE PEG) traded down 0.72% during midday trading on Thursday, reaching $48.29. The company’s stock had a trading volume of 796,778 shares. Public Service Enterprise Group has a 12 month low of $39.28 and a 12 month high of $49.33. The company has a market cap of $24.43 billion, a PE ratio of 54.26 and a beta of 0.38. The stock has a 50-day moving average price of $46.65 and a 200 day moving average price of $44.95.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the previous year, the business earned $0.57 EPS. Analysts expect that Public Service Enterprise Group will post $2.92 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.54%. The ex-dividend date was Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is presently 193.26%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the sale, the chairman now directly owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Insiders sold 125,653 shares of company stock valued at $6,000,275 over the last three months. 0.61% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC lifted its stake in Public Service Enterprise Group by 45.9% in the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 202 shares during the last quarter. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 20 shares during the last quarter. Hudock Capital Group LLC lifted its stake in 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 purchasing an additional 735 shares during the last quarter. Vantage Investment Advisors LLC lifted its stake in 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 purchasing an additional 700 shares during the last quarter. Finally, Gradient Investments LLC lifted its stake in Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 2,484 shares during the last quarter. 65.85% of the stock is owned by institutional investors and hedge funds.

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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