Public Service Enterprise Group Incorporated (NYSE:PEG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Public Service Enterprise’s consistent capital-investment plans backed by a stable liquidity position have the potential to boost its performance. Moreover, Public Service Enterprise boasts a solid portfolio of regulated and non-regulated utility assets that offer stable earnings and significant long-term growth potential. Apart from focusing on transmission and distribution infrastructure, the company’s initiative to expand its renewable assets also buoys optimism. Toward this end, the notable solar initiatives that the company currently is pursuing are the Solar Loan Program and the Solar 4 All and Solar 4 All Extension programs. However, stringent environmental regulations and commodity price volatility may be a setback for the stock. Again, Public Service Enterprise's stock underperformed the Zacks categorized Utility Electric-Power industry in the last one year.”

Several other equities analysts have also issued reports on the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. BidaskClub lowered Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Royal Bank of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Barclays PLC boosted their price target on Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. Finally, Mizuho assumed coverage on Public Service Enterprise Group in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Public Service Enterprise Group has an average rating of “Hold” and an average price target of $46.80.

Shares of Public Service Enterprise Group (NYSE PEG) opened at 42.10 on Monday. The company’s 50-day moving average price is $44.08 and its 200-day moving average price is $44.12. The company has a market capitalization of $21.30 billion, a PE ratio of 40.48 and a beta of 0.38. Public Service Enterprise Group has a 1-year low of $39.28 and a 1-year high of $46.67.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.56 billion. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, equities analysts expect that Public Service Enterprise Group will post $2.90 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Wednesday, June 7th. Public Service Enterprise Group’s payout ratio is 165.39%.

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In related news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ralph A. Larossa sold 24,021 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Insiders have sold 86,021 shares of company stock worth $3,733,335 over the last ninety days. 0.61% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of 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 valued at $2,145,620,000 after buying an additional 47,208,334 shares during the period. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the period. State Street Corp increased its stake in shares of Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after buying an additional 319,134 shares during the period. BlackRock Fund Advisors increased its stake in shares of Public Service Enterprise Group by 7.3% in the second quarter. BlackRock Fund Advisors now owns 14,058,635 shares of the utilities provider’s stock valued at $655,273,000 after buying an additional 951,808 shares during the period. Finally, LSV Asset Management increased its stake in shares of Public Service Enterprise Group by 1.5% in the first quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock valued at $610,644,000 after buying an additional 207,819 shares during the period. Institutional investors and hedge funds own 66.51% 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.

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

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