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StockNews.com Lowers Public Service Enterprise Group (NYSE:PEG) to Sell – MarketBeat


Public Service Enterprise Group (NYSE:PEGGet Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities analysts have also recently issued reports on PEG. Barclays lowered their price target on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. TheStreet cut Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday, June 13th. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Morgan Stanley decreased their target price 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. Finally, Mizuho decreased their target price on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.73.

Public Service Enterprise Group Stock Up 1.4 %

Shares of Public Service Enterprise Group stock opened at $67.61 on Friday. The business’s fifty day moving average price is $63.02 and its two-hundred day moving average price is $66.37. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.68. The company has a market capitalization of $33.73 billion, a P/E ratio of -34.49, a PEG ratio of 6.15 and a beta of 0.55. Public Service Enterprise Group has a 1-year low of $58.19 and a 1-year high of $75.61.

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Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group will post 3.48 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now owns 447,656 shares of the company’s stock, valued at $28,717,132.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now owns 447,656 shares of the company’s stock, valued at $28,717,132.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the sale, the chief operating officer now directly owns 61,259 shares of the company’s stock, valued at approximately $4,028,391.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,357 shares of company stock valued at $2,133,525. Insiders own 0.55% of the company’s stock.

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Institutional Trading of Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in PEG. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth about $27,000. Tcwp LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth about $28,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth about $30,000. Covestor Ltd acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $32,000. Finally, Elmwood Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 70.82% of the company’s stock.

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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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