Public Service Enterprise Group Inc. (NYSE:PEG) shares gapped up before the market opened on Friday . The stock had previously closed at $43.80, but opened at $43.92. Public Service Enterprise Group shares last traded at $44.08, with a volume of 1,162,072 shares trading hands.

Several research firms recently weighed in on PEG. Bank of America Corp. lowered Public Service Enterprise Group from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $46.00 to $41.00 in a research report on Tuesday, June 7th. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Monday, April 25th. Morgan Stanley upgraded Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Wednesday, July 13th. Deutsche Bank AG restated a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, May 19th. Finally, BMO Capital Markets restated a “hold” rating on shares of Public Service Enterprise Group in a research note on Monday, May 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.33.

The stock has a 50 day moving average of $45.35 and a 200-day moving average of $44.80. The company has a market capitalization of $22.25 billion and a P/E ratio of 15.87.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.01. During the same period last year, the business earned $0.57 earnings per share. Analysts expect that Public Service Enterprise Group Inc. will post $2.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, September 7th.

In related news, CEO Ralph Izzo sold 43,903 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $44.92, for a total transaction of $1,972,122.76. Following the sale, the chief executive officer now owns 711,658 shares of the company’s stock, valued at approximately $31,967,677.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ralph A. Larossa sold 35,824 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $44.36, for a total value of $1,589,152.64. Following the sale, the chief operating officer now directly owns 84,322 shares in the company, valued at approximately $3,740,523.92. The disclosure for this sale can be found here.

Other hedge funds have modified their holdings of the company. Atlantic Trust Group LLC increased its stake in shares of Public Service Enterprise Group by 11.8% in the fourth quarter. Atlantic Trust Group LLC now owns 26,994 shares of the company’s stock valued at $1,045,000 after buying an additional 2,850 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Public Service Enterprise Group by 232.7% in the fourth quarter. I.G. Investment Management LTD. now owns 27,974 shares of the company’s stock valued at $1,082,000 after buying an additional 19,566 shares during the last quarter. Advantus Capital Management Inc increased its stake in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Advantus Capital Management Inc now owns 48,354 shares of the company’s stock valued at $1,871,000 after buying an additional 1,129 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Public Service Enterprise Group by 35.6% in the fourth quarter. Victory Capital Management Inc. now owns 58,919 shares of the company’s stock valued at $2,280,000 after buying an additional 15,469 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Public Service Enterprise Group by 2.5% in the fourth quarter. Advisors Asset Management Inc. now owns 62,984 shares of the company’s stock valued at $2,437,000 after buying an additional 1,558 shares during the last quarter.

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

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