BidaskClub upgraded shares of Public Service Enterprise Group Incorporated (NYSE:PEG) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other research analysts have also weighed in on PEG. Royal Bank Of Canada reissued an outperform rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Public Service Enterprise Group from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research note on Tuesday, July 4th. Wolfe Research raised shares of Public Service Enterprise Group from an underperform rating to a market perform rating in a research note on Monday, July 17th. Finally, Citigroup Inc. reissued a neutral rating and set a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $48.21.

Public Service Enterprise Group (NYSE:PEG) opened at 47.30 on Friday. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $47.47. The firm has a 50-day moving average of $44.92 and a 200-day moving average of $44.41. The stock has a market capitalization of $23.93 billion, a PE ratio of 53.15 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released 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 net margin of 4.88% and a return on equity of 11.46%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm 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 business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a yield of 3.64%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 193.26%.

In other news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the sale, the chairman now directly owns 748,121 shares in the company, valued at $32,042,022.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The shares were 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 have sold a total of 54,900 shares of company stock worth $2,413,947 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Several hedge funds have recently bought and sold shares of PEG. BlackRock Inc. increased its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after buying an additional 47,208,334 shares during the period. Federated Investors Inc. PA increased its stake in Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after buying an additional 4,314,015 shares during the period. BT Investment Management Ltd acquired a new stake in Public Service Enterprise Group during the second quarter worth about $84,819,000. Balyasny Asset Management LLC increased its stake in Public Service Enterprise Group by 413.1% in the second quarter. Balyasny Asset Management LLC now owns 1,986,751 shares of the utilities provider’s stock worth $85,450,000 after buying an additional 1,599,583 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Public Service Enterprise Group by 179.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock worth $92,943,000 after buying an additional 1,387,377 shares during the period. 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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