Public Service Enterprise Group (PEG) Downgraded by Mizuho to “Neutral”

Public Service Enterprise Group (NYSE:PEG) was downgraded by equities researchers at Mizuho from a “buy” rating to a “neutral” rating in a report released on Monday. The analysts noted that the move was a valuation call.

A number of other research analysts also recently weighed in on PEG. Royal Bank of Canada reiterated a “hold” rating and set a $47.00 target price on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, October 10th. Jefferies Group reiterated a “hold” rating and set a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday, October 12th. JPMorgan Chase & Co. upped their target price on Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Bank of America started coverage on Public Service Enterprise Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $51.46.

Public Service Enterprise Group (NYSE PEG) traded down $1.20 during mid-day trading on Monday, hitting $48.84. The company’s stock had a trading volume of 4,753,035 shares, compared to its average volume of 3,749,997. Public Service Enterprise Group has a 1 year low of $41.67 and a 1 year high of $53.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. The stock has a market cap of $25,320.00, a P/E ratio of 47.88, a price-to-earnings-growth ratio of 4.73 and a beta of 0.39.

In related news, insider Derek M. Dirisio sold 2,185 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the sale, the chairman now owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Insiders sold a total of 97,684 shares of company stock worth $4,998,727 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of PEG. IHT Wealth Management LLC boosted its stake in Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 202 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Public Service Enterprise Group by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 39,158 shares of the utilities provider’s stock valued at $1,684,000 after purchasing an additional 410 shares during the last quarter. Advisory Services Network LLC boosted its stake in Public Service Enterprise Group by 11.7% during the 2nd quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock valued at $221,000 after purchasing an additional 541 shares during the last quarter. Boston Advisors LLC boosted its stake in Public Service Enterprise Group by 0.4% during the 4th quarter. Boston Advisors LLC now owns 234,061 shares of the utilities provider’s stock valued at $12,054,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Cable Hill Partners LLC boosted its stake in Public Service Enterprise Group by 33.4% during the 3rd quarter. Cable Hill Partners LLC now owns 4,093 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors own 66.85% of the company’s stock.

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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.