Public Service Enterprise Group (NYSE:PEG) Rating Lowered to Neutral at LADENBURG THALM/SH SH

Public Service Enterprise Group (NYSE:PEG) was downgraded by investment analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday,Finviz reports. They presently have a $82.50 price objective on the utilities provider’s stock. LADENBURG THALM/SH SH’s target price would suggest a potential upside of 0.41% from the company’s current price.

A number of other research analysts have also recently weighed in on PEG. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Scotiabank upped their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.27.

Public Service Enterprise Group Price Performance

PEG stock opened at $82.16 on Wednesday. The company’s fifty day moving average price is $83.61 and its 200-day moving average price is $86.04. Public Service Enterprise Group has a one year low of $63.54 and a one year high of $95.22. The company has a market capitalization of $40.96 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $445,005,000. Raymond James Financial Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. Jennison Associates LLC increased its holdings in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.