Jefferies Group LLC reissued their hold rating on shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in a research report sent to investors on Thursday. Jefferies Group LLC currently has a $46.50 price target on the utilities provider’s stock.

PEG has been the subject of several other reports. Zacks Investment Research downgraded Public Service Enterprise Group from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Barclays PLC upgraded Public Service Enterprise Group from an equal weight rating to an overweight rating and upped their price objective for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd. Morgan Stanley upped their price objective 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. Royal Bank Of Canada restated a hold rating and set a $47.00 price objective on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Finally, Wolfe Research upgraded Public Service Enterprise Group from an underperform rating to a market perform rating in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $49.79.

Shares of Public Service Enterprise Group (NYSE PEG) opened at 48.64 on Thursday. The firm has a market capitalization of $24.61 billion, a price-to-earnings ratio of 54.65 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 has a 52 week low of $39.28 and a 52 week high of $49.33.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the company earned $0.57 EPS. On average, equities research analysts forecast that Public Service Enterprise Group will post $2.92 earnings per share for the current year.

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

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 79,920 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $48.83, for a total value of $3,902,493.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were 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. Insiders sold 125,653 shares of company stock valued at $6,000,275 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Public Service Enterprise Group by 8.3% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 96,377 shares of the utilities provider’s stock valued at $4,458,000 after buying an additional 7,350 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Public Service Enterprise Group by 65.3% in the third quarter. Eqis Capital Management Inc. now owns 18,829 shares of the utilities provider’s stock valued at $871,000 after buying an additional 7,441 shares during the period. Intl Fcstone Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $297,000. Griffin Asset Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $1,290,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Public Service Enterprise Group by 1.5% in the second quarter. Lord Abbett & CO. LLC now owns 299,300 shares of the utilities provider’s stock valued at $12,873,000 after buying an additional 4,500 shares during the period. 65.88% of the stock is owned by institutional investors.

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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