Public Service Enterprise Group Incorporated (NYSE:PEG) has been a hot topic among investors and analysts lately, with the utilities provider receiving a “Moderate Buy” rating from thirteen brokerages, according to recent Bloomberg Ratings. Four researchers have rated the stock as a hold whilst five have recommended it as a buy. Meanwhile, analysts who have covered the stock over the past year are expecting an average twelve-month price target of $66.55.
Investors in Public Service Enterprise Group have recently made adjustments to their positions following news of a quarterly dividend. Stockholders of record on March 10th were issued an increased payment of $0.57 per share compared to its previous figure of $0.54 last quarter, representing a current annualized payout rate of $2.28 and dividend yield at 3.59%. These figures may indicate that the company is not shy when it comes to rewarding its shareholders.
The increase in payouts may draw attention not only from individual investors but also brings Public Service Enterprise Group onto the radar for institutional investors who often prefer companies who exhibit long-term stability when paying out dividends regularly as part of their growth strategy.
Recent figures detailing large institutional investors’ activity around Public Service Enterprise Group could also raise eyebrows among potential investors thinking about jumping on board with this growing company. Kentucky Retirement Systems has demonstrated its faith in PEG by raising its position by 0.4% in Q4 last year while Beech Hill Advisors Inc., Schechter Investment Advisors LLC, Pinnacle Wealth Management Advisory Group LLC and Desjardins Global Asset Management Inc., have all raised their stakes within recent quarters.
The growing interest in Public Service Enterprise Group’s stock shows no sign of slowing down anytime soon and presents itself as an excellent investment opportunity worthy of further investigation for new prospective shareholders looking for positive returns.*
Mixed Feedback on Public Service Enterprise Group (PEG) – Potential Caution for Investors
Public Service Enterprise Group (PEG) has been the subject of recent analysis by several equities analysts, with mixed feedback on the stock. Ladenburg Thalm/SH SH assumed coverage and set a neutral rating, alongside a target price of $60.50, whilst Guggenheim lowered their target price from $71 to $68 and maintained a buy rating for the company. Morgan Stanley reduced its PEG target price from $68 to $64 but maintained an overweight rating for the firm. BMO Capital Markets raised its target price from $60 to $66 for PEG in its equity rating report.
TheStreet upgraded the shares of Public Service Enterprise Group, raising their previous C-rating to a B-rating on February 21st; however, this was offset by news that COO Eric Carr sold 7,105 shares in March worth over $400k. When compared to the whole structure of the company’s holdings, insiders own only 0.57% suggesting very little insider confidence – this could potentially lead investors towards further caution.
PEG has disclosed a quarterly dividend which was boosted recently from a previous quarterly rate ($0.54 per share) to $0.57 per share; comparable figures equate to an annualized dividend yield of 3.59% on the stock – but trade ex-dividend currently.
Public Service Enterprise Group’s stock opened at $63.50 and holds a fifty-day moving average price of $60.53 alongside a200-day moving average price of $59.59 as it operates with a market capitalization of $31.67 billion and its debt-to-equity ratio stands at approximately 1:20 respectively.
Public Service Enterprise Group’s last earnings announcement came back in February when it posted earnings-per-share estimates at around $0.64 for that particular quarter casting up positive results – beating prior consensus predictions by as much as two cents higher than anticipated As the utilities provider witnessed a net margin of 10.52% and an ROE of 12.88%, its business revenue grew to $3.14 billion for the quarter, compared to the average analysts estimate at around $2.54 billion from the same period last year while still leaving analysts predicting a 3.43 EPS for the overall fiscal calendar year.
The financial data for Public Service Enterprise Group is mixed but overall remains positive with small predictions suggestive of limited growth as earlier seen; this would suggest that current investors should hold onto their stock rather than make any sudden decisions.
