Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 6,260,000 shares, a decrease of 14.4% from the May 15th total of 7,310,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is presently 2.2 days.
Shares of PEG traded down $0.45 during mid-day trading on Friday, reaching $58.55. 89,727 shares of the company’s stock were exchanged, compared to its average volume of 2,457,354. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group has a 52-week low of $58.35 and a 52-week high of $75.61. The company has a 50-day simple moving average of $68.97 and a two-hundred day simple moving average of $67.04.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s revenue was down 19.9% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group will post 3.48 EPS for the current fiscal year.
In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total value of $673,032.30. Following the sale, the chief executive officer now directly owns 457,539 shares in the company, valued at $31,158,405.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 30,249 shares of company stock worth $2,092,304 over the last 90 days. 0.55% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $27,000. Tcwp LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth $28,000. TAP Consulting LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $28,000. First Community Trust NA bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $31,000. Finally, Covestor Ltd bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $32,000. Institutional investors and hedge funds own 70.82% of the company’s stock.
A number of equities analysts recently issued reports on PEG shares. Morgan Stanley lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. TheStreet lowered Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Monday, May 9th. Credit Suisse Group assumed coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Buy” and an average target price of $73.09.
Public Service Enterprise Group Company Profile (Get Rating)
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
- Get a free copy of the StockNews.com research report on Public Service Enterprise Group (PEG)
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