Evercore ISI Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its target price cut by Evercore ISI from $99.00 to $92.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

Several other brokerages also recently weighed in on PEG. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus price target of $88.81.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $79.52 on Thursday. The stock’s fifty day moving average is $81.20 and its 200 day moving average is $84.88. Public Service Enterprise Group has a one year low of $70.28 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $39.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $1.31 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 4,134 shares of company stock worth $337,941 over the last three months. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds have recently added to or reduced their stakes in PEG. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC increased its stake in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $39,000. 73.34% of the stock is currently owned by 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.