Public Service Enterprise Group (NYSE:PEG) Stock Gets Price Target Trim from LADENBURG THALM/SH SH

Public Service Enterprise Group (NYSE:PEG) had its price target reduced by LADENBURG THALM/SH SH from $80.50 to $75.50 in a research report report published on Tuesday morning,Benzinga reports. LADENBURG THALM/SH SH currently has a neutral rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Truist Financial reduced their target price on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $79.00 to $77.00 and set a “market perform” rating for the company in a research note on Thursday, October 22nd. Jefferies Financial Group cut their price objective on shares of Public Service Enterprise Group from $73.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Finally, Citigroup reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.32.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $73.08 on Tuesday. Public Service Enterprise Group has a twelve month low of $66.15 and a twelve month high of $87.63. The company has a quick ratio of 0.67, a current ratio of 1.01 and a debt-to-equity ratio of 1.39. The company has a 50-day simple moving average of $71.20 and a two-hundred day simple moving average of $77.93. The stock has a market capitalization of $36.43 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.04). The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. Analysts forecast that Public Service Enterprise Group will post 4.37 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total transaction of $153,308.80. Following the completion of the sale, the chief executive officer directly owned 276,487 shares in the company, valued at $20,349,443.20. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,166 shares of company stock valued at $890,350 in the last three months. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Public Service Enterprise Group during the second quarter valued at about $4,366,570,000. State Street Corp grew its stake in shares of Public Service Enterprise Group by 1.4% during the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock valued at $2,392,713,000 after buying an additional 399,191 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Public Service Enterprise Group in the second quarter worth about $1,207,400,000. Legal & General Group Plc purchased a new position in shares of Public Service Enterprise Group in the second quarter worth about $554,994,000. Finally, Amundi lifted its stake in shares of Public Service Enterprise Group by 71.6% in the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after acquiring an additional 1,653,832 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.