Traders Buy Shares of Public Service Enterprise Group (PEG) on Weakness

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Traders bought shares of Public Service Enterprise Group Inc. (NYSE:PEG) on weakness during trading on Monday. $32.95 million flowed into the stock on the tick-up and $11.67 million flowed out of the stock on the tick-down, for a money net flow of $21.28 million into the stock. Of all companies tracked, Public Service Enterprise Group had the 19th highest net in-flow for the day. Public Service Enterprise Group traded down ($0.25) for the day and closed at $53.56

PEG has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 29th. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Morgan Stanley lifted their price target on Public Service Enterprise Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 16th. Mizuho reaffirmed a “hold” rating and set a $50.00 price target on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Finally, Citigroup lifted their price target on Public Service Enterprise Group from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, May 4th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.83.

The company has a market cap of $25.93 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.78 and a beta of 0.36. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.37 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same quarter last year, the business posted $0.62 EPS. analysts expect that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.36%. Public Service Enterprise Group’s payout ratio is currently 61.43%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $53.85, for a total transaction of $1,121,857.05. Following the completion of the transaction, the chairman now owns 574,131 shares in the company, valued at approximately $30,916,954.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 62,499 shares of company stock valued at $3,269,739 in the last quarter. Company insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. American Research & Management Co. purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $108,000. NuWave Investment Management LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $118,000. Squar Milner Financial Services LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $149,000. Cordasco Financial Network increased its stake in shares of Public Service Enterprise Group by 63.1% in the 2nd quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $161,000. Institutional investors and hedge funds own 68.24% of the company’s stock.

Public Service Enterprise Group Company Profile (NYSE:PEG)

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 Power. The PSE&G segment transmits electricity; and 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 to customers.

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