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

Public Service Enterprise Group (NYSE:PEG) was downgraded by equities research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Finviz reports. They currently have a $82.50 target price on the utilities provider’s stock. LADENBURG THALM/SH SH’s target price indicates a potential upside of 0.41% from the company’s previous close.

Several other brokerages have also commented on PEG. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Bank of America cut their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $89.27.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $82.16 on Wednesday. The stock’s 50-day simple moving average is $83.61 and its 200 day simple moving average is $86.04. The stock has a market capitalization of $40.96 billion, a price-to-earnings 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 has a 52-week low of $63.54 and a 52-week high of $95.22.

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

Insider Buying and Selling at Public Service Enterprise Group

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

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently made changes to their positions in the stock. 111 Capital bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $349,000. Thoma Capital Management LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $253,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Public Service Enterprise Group by 10.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 86,525 shares of the utilities provider’s stock valued at $7,310,000 after purchasing an additional 8,022 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Public Service Enterprise Group by 15.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 6,211 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 820 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $77,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Company Profile

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.