Barclays PLC upgraded shares of Public Service Enterprise Group Incorporated (NYSE:PEG) from an equal weight rating to an overweight rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has $51.00 price target on the utilities provider’s stock, up from their prior price target of $49.00.

PEG has been the subject of several other research 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. Morgan Stanley raised their price target 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. Wolfe Research raised Public Service Enterprise Group from an underperform rating to a market perform rating in a research report on Monday, July 17th. Mizuho raised Public Service Enterprise Group from a neutral rating to a buy rating and raised their price target for the stock from $44.50 to $50.00 in a research report on Friday, August 11th. Finally, Citigroup Inc. reissued a neutral rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $49.13.

Shares of Public Service Enterprise Group (PEG) opened at 46.50 on Friday. The firm has a 50-day moving average price of $46.22 and a 200 day moving average price of $44.64. The stock has a market capitalization of $23.52 billion, a PE ratio of 52.25 and a beta of 0.39. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results 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. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter last year, the business posted $0.57 earnings per share. On average, equities analysts expect that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

In other news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 1st. The stock was 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 owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The sale was disclosed in a document filed with the SEC, 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 on 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. In the last ninety days, insiders sold 54,900 shares of company stock valued at $2,413,947. Company insiders own 0.61% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at $297,000. Griffin Asset Management Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at $1,290,000. Lord Abbett & CO. LLC boosted its holdings in 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 acquiring an additional 4,500 shares during the last quarter. Sentry Investment Management LLC boosted its holdings in Public Service Enterprise Group by 1.1% in the second quarter. Sentry Investment Management LLC now owns 39,158 shares of the utilities provider’s stock valued at $1,684,000 after acquiring an additional 410 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Public Service Enterprise Group by 25.4% in the second quarter. Toronto Dominion Bank now owns 171,376 shares of the utilities provider’s stock valued at $7,369,000 after acquiring an additional 34,746 shares during the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.

Public Service Enterprise Group Company Profile

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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