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

LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group (NYSE:PEG - Free Report) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports. LADENBURG THALM/SH SH currently has $82.50 price target on the utilities provider's stock.

A number of other analysts have also weighed in on PEG. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. Bank of America lowered their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.30 during mid-day trading on Wednesday, hitting $83.00. 5,339,712 shares of the stock were exchanged, compared to its average volume of 2,548,848. The company has a market cap of $41.38 billion, a P/E ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60. The stock's fifty day simple moving average is $83.50 and its two-hundred day simple moving average is $86.10. 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 twelve month low of $64.03 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. As a group, analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Insider Transactions 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 on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company's stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors have recently added to or reduced their stakes in PEG. Norges Bank bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $376,209,000. Jennison Associates LLC lifted its position in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after acquiring an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock valued at $178,900,000 after acquiring an additional 1,483,662 shares in the last quarter. 73.34% of the stock is 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.