Public Service Enterprise Group (NYSE:PEG) Downgraded to Neutral at Mizuho

Public Service Enterprise Group (NYSE:PEG) was downgraded by Mizuho from a “buy” rating to a “neutral” rating in a report released on Monday, February 5th. The analysts noted that the move was a valuation call.

A number of other research firms also recently commented on PEG. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Guggenheim reiterated a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, January 3rd. UBS Group assumed coverage on Public Service Enterprise Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $52.00 target price on the stock. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Macquarie upgraded Public Service Enterprise Group from a “neutral” rating to an “outperform” rating in a research note on Monday, January 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Public Service Enterprise Group has an average rating of “Buy” and a consensus target price of $51.04.

Public Service Enterprise Group (PEG) opened at $47.62 on Monday. The company has a market cap of $24,310.10, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 4.08 and a beta of 0.39. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group has a 1-year low of $41.67 and a 1-year high of $53.28.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the transaction, the chairman now owns 687,600 shares of the company’s stock, valued at approximately $36,374,040. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,684 shares of company stock worth $3,344,767. Company insiders own 0.61% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its holdings in Public Service Enterprise Group by 5.6% in the 4th quarter. Glenmede Trust Co. NA now owns 125,088 shares of the utilities provider’s stock worth $6,441,000 after purchasing an additional 6,583 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Public Service Enterprise Group by 1.9% in the 4th quarter. Macquarie Group Ltd. now owns 553,702 shares of the utilities provider’s stock worth $22,025,000 after purchasing an additional 10,158 shares during the last quarter. Vident Investment Advisory LLC lifted its holdings in Public Service Enterprise Group by 16.2% in the 4th quarter. Vident Investment Advisory LLC now owns 12,498 shares of the utilities provider’s stock worth $643,000 after purchasing an additional 1,746 shares during the last quarter. Jane Street Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $1,777,000. Finally, Verition Fund Management LLC lifted its holdings in Public Service Enterprise Group by 128.3% in the 4th quarter. Verition Fund Management LLC now owns 309,538 shares of the utilities provider’s stock worth $15,941,000 after purchasing an additional 173,940 shares during the last quarter. Institutional investors and hedge funds own 66.40% of the company’s stock.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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