Public Service Enterprise Group (NYSE:PEG) PT Lowered to $60.00 at Mizuho

Public Service Enterprise Group (NYSE:PEGGet Rating) had its price target reduced by Mizuho from $68.00 to $60.00 in a research note released on Tuesday, The Fly reports. They currently have a buy rating on the utilities provider’s stock.

Several other analysts also recently weighed in on PEG. Guggenheim reduced their price objective on shares of Public Service Enterprise Group to $67.00 in a research report on Friday, November 4th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an overweight rating in a research report on Friday, November 11th. UBS Group reduced their price objective on shares of Public Service Enterprise Group to $74.00 in a research report on Friday, November 4th. Wolfe Research downgraded shares of Public Service Enterprise Group from an outperform rating to a peer perform rating in a research report on Thursday, November 17th. Finally, StockNews.com downgraded shares of Public Service Enterprise Group from a hold rating to a sell rating in a research report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $68.08.

Public Service Enterprise Group Stock Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $59.01 on Tuesday. Public Service Enterprise Group has a 52-week low of $52.51 and a 52-week high of $75.61. The company has a 50 day moving average of $57.99 and a 200 day moving average of $62.65. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $29.44 billion, a P/E ratio of 43.39, a P/E/G ratio of 5.29 and a beta of 0.57.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings results on Monday, October 31st. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $1.98 billion. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, research analysts forecast that Public Service Enterprise Group will post 3.44 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a $0.54 dividend. The ex-dividend date is Thursday, December 8th. This represents a $2.16 annualized dividend and a yield of 3.66%. Public Service Enterprise Group’s dividend payout ratio is currently 158.82%.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the company. KBC Group NV increased its stake in Public Service Enterprise Group by 3.9% in the 1st quarter. KBC Group NV now owns 30,648 shares of the utilities provider’s stock valued at $2,145,000 after buying an additional 1,150 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Public Service Enterprise Group by 11.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 11,491 shares of the utilities provider’s stock worth $727,000 after purchasing an additional 1,171 shares during the period. Aviva PLC grew its stake in shares of Public Service Enterprise Group by 75.7% during the 1st quarter. Aviva PLC now owns 316,219 shares of the utilities provider’s stock worth $22,135,000 after purchasing an additional 136,229 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Public Service Enterprise Group by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 723,349 shares of the utilities provider’s stock worth $50,634,000 after purchasing an additional 17,720 shares during the period. Finally, Candriam S.C.A. grew its stake in shares of Public Service Enterprise Group by 12.6% during the 2nd quarter. Candriam S.C.A. now owns 47,462 shares of the utilities provider’s stock worth $3,003,000 after purchasing an additional 5,321 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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