Public Service Enterprise Group Inc. (NYSE:PEG) updated its FY16 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.80-3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.87.

PEG has been the subject of several recent research reports. Zacks Investment Research downgraded Public Service Enterprise Group from a hold rating to a sell rating in a report on Tuesday, July 19th. Morgan Stanley upgraded Public Service Enterprise Group from an underweight rating to an equal weight rating and increased their price target for the company from $43.00 to $47.00 in a report on Wednesday, July 13th. Deutsche Bank AG reiterated a hold rating and issued a $47.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, June 15th. Finally, Bank of America Corp. downgraded Public Service Enterprise Group from a neutral rating to an underperform rating and lowered their price target for the company from $46.00 to $41.00 in a report on Tuesday, June 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $46.38.

Public Service Enterprise Group Inc. (NYSE:PEG) opened at 42.30 on Monday. Public Service Enterprise Group Inc. has a 12 month low of $36.80 and a 12 month high of $47.41. The stock’s 50 day moving average is $43.65 and its 200 day moving average is $44.97. The company has a market cap of $21.40 billion, a PE ratio of 15.27 and a beta of 0.24.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.01. Public Service Enterprise Group had a net margin of 14.82% and a return on equity of 10.71%. During the same quarter last year, the business posted $0.57 EPS. Equities analysts predict that Public Service Enterprise Group Inc. will post $2.87 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Wednesday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.21%.

In other news, COO William Levis sold 7,500 shares of the firm’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 transaction, the chief operating officer now owns 156,671 shares in the company, valued at approximately $6,851,222.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph Izzo sold 43,313 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $46.40, for a total transaction of $2,009,723.20. Following the transaction, the chief executive officer now owns 717,755 shares in the company, valued at approximately $33,303,832. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Silvercrest Asset Management Group LLC increased its position in Public Service Enterprise Group by 0.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 6,976 shares of the company’s stock worth $325,000 after buying an additional 33 shares in the last quarter. Paradigm Asset Management Co. LLC increased its position in 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 worth $133,000 after buying an additional 279 shares in the last quarter. Advantus Capital Management Inc increased its position in Public Service Enterprise Group by 0.9% in the second quarter. Advantus Capital Management Inc now owns 49,166 shares of the company’s stock worth $2,292,000 after buying an additional 437 shares in the last quarter. Zacks Investment Management increased its position in Public Service Enterprise Group by 3.4% in the second quarter. Zacks Investment Management now owns 17,054 shares of the company’s stock worth $795,000 after buying an additional 556 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in Public Service Enterprise Group by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 10,002 shares of the company’s stock worth $466,000 after buying an additional 669 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

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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