Public Service Enterprise Group Inc. (NYSE:PEG) had its price target dropped by stock analysts at Argus from $52.00 to $48.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Argus’ price objective indicates a potential upside of 12.52% from the company’s previous close.

Several other equities analysts also recently commented on PEG. Deutsche Bank AG restated a “hold” rating and issued a $47.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, June 15th. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Bank of America Corp. downgraded shares of Public Service Enterprise Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $46.00 to $41.00 in a research note on Tuesday, June 7th. Finally, Morgan Stanley upgraded shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $43.00 to $47.00 in a research note on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $46.38.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

Shares of Public Service Enterprise Group (NYSE:PEG) traded up 0.42% during midday trading on Tuesday, reaching $42.84. The company’s stock had a trading volume of 269,449 shares. The stock has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.47 and a beta of 0.24. The company has a 50 day moving average of $43.26 and a 200-day moving average of $44.94. Public Service Enterprise Group has a 52 week low of $36.80 and a 52 week high of $47.41.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/argus-reaffirms-buy-rating-for-public-service-enterprise-group-inc-peg.html

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a return on equity of 10.71% and a net margin of 14.82%. During the same quarter last year, the company posted $0.57 earnings per share. Equities research analysts predict that Public Service Enterprise Group will post $2.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a $0.41 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.64 dividend on an annualized basis and a yield of 3.84%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.21%.

In other news, Chairman Ralph Izzo sold 43,564 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $45.76, for a total value of $1,993,488.64. Following the completion of the sale, the chairman now directly owns 729,201 shares of the company’s stock, valued at $33,368,237.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO William Levis sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $43.73, for a total transaction of $327,975.00. Following the completion of the sale, the chief operating officer now directly owns 156,671 shares of the company’s stock, valued at $6,851,222.83. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Bruderman Asset Management LLC boosted its position in Public Service Enterprise Group by 5.3% in the second quarter. Bruderman Asset Management LLC now owns 2,528 shares of the company’s stock valued at $118,000 after buying an additional 128 shares in the last quarter. Huntington National Bank boosted its position in Public Service Enterprise Group by 10.3% in the second quarter. Huntington National Bank now owns 2,537 shares of the company’s stock valued at $119,000 after buying an additional 237 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its position in Public Service Enterprise Group by 10.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,850 shares of the company’s stock valued at $133,000 after buying an additional 279 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in Public Service Enterprise Group during the second quarter valued at about $135,000. Finally, Global X Management Co. LLC boosted its position in Public Service Enterprise Group by 153.4% in the second quarter. Global X Management Co. LLC now owns 2,914 shares of the company’s stock valued at $136,000 after buying an additional 1,764 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

Receive News & Ratings for Public Service Enterprise Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.