Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.14 and last traded at $47.09, with a volume of 1,136,187 shares. The stock had previously closed at $47.00.

Several research firms have issued reports on PEG. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $49.00 price target (up from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 1st. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Finally, BidaskClub raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $48.21.

The stock’s 50-day moving average price is $44.44 and its 200-day moving average price is $44.32. The firm has a market capitalization of $23.86 billion, a P/E ratio of 53.00 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the prior year, the company earned $0.57 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.66%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the sale, the chairman now directly owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PEG. Welch & Forbes LLC raised its position in Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock valued at $242,000 after buying an additional 15 shares in the last quarter. Parallel Advisors LLC raised its position in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares in the last quarter. Premier Asset Management LLC raised its position in Public Service Enterprise Group by 0.6% in the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock valued at $230,000 after buying an additional 31 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock valued at $368,000 after buying an additional 38 shares in the last quarter. Finally, Wsfs Capital Management LLC raised its position in Public Service Enterprise Group by 0.5% in the second quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock valued at $392,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

WARNING: This report was originally posted by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/23/public-service-enterprise-group-incorporated-peg-reaches-new-1-year-high-at-47-14.html.

Public Service Enterprise Group Company Profile

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.