Mizuho Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $60.00

Public Service Enterprise Group (NYSE:PEGGet Rating) had its target price trimmed by Mizuho from $68.00 to $60.00 in a research report report published on Tuesday, The Fly reports. The firm currently has a buy rating on the utilities provider’s stock.

PEG has been the topic of a number of other research reports. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $64.00 to $59.00 and set a market perform rating on the stock in a research note on Monday, November 14th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an overweight rating in a research note on Friday, November 11th. StockNews.com downgraded shares of Public Service Enterprise Group from a hold rating to a sell rating in a research note on Tuesday, November 1st. Guggenheim decreased their price target on shares of Public Service Enterprise Group to $67.00 in a research note on Friday, November 4th. Finally, Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an overweight rating on the stock in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of Hold and a consensus price target of $68.08.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $58.35 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60. The firm has a fifty day moving average price of $58.15 and a 200 day moving average price of $62.67. Public Service Enterprise Group has a fifty-two week low of $52.51 and a fifty-two week high of $75.61. The firm has a market cap of $29.11 billion, a price-to-earnings ratio of 42.90, a P/E/G ratio of 5.18 and a beta of 0.57.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its earnings results on Monday, October 31st. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $1.98 billion. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. Public Service Enterprise Group’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group will post 3.44 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, December 8th. Public Service Enterprise Group’s dividend payout ratio is presently 158.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEG. Destiny Wealth Partners LLC increased its stake in Public Service Enterprise Group by 304.5% in the 3rd quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock worth $25,000 after buying an additional 341 shares during the period. Tcwp LLC bought a new position in Public Service Enterprise Group during the 1st quarter worth about $28,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $30,000. Tradition Wealth Management LLC bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $33,000. Finally, Total Clarity Wealth Management Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Public Service Enterprise Group

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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.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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