Public Service Enterprise Group PT Lowered to $41.00 (PEG)

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Research analysts at Jefferies Group cut their target price on shares of Public Service Enterprise Group (NYSE:PEG) from $44.00 to $41.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 15.53% from the stock’s previous close.

Public Service Enterprise Group (NYSE:PEG) traded up 0.91% during mid-day trading on Thursday, hitting $35.49. 3,792,300 shares of the company’s stock traded hands. Public Service Enterprise Group has a 52-week low of $31.25 and a 52-week high of $41.38. The stock has a 50-day moving average of $38.19 and a 200-day moving average of $37.15. The company has a market cap of $17.955 billion and a P/E ratio of 15.03. Public Service Enterprise Group also was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 16,672,660 shares, a drop of 25.2% from the June 30th total of 22,294,907 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,835,370 shares, the days-to-cover ratio is currently 4.3 days.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, July 30th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.02. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts predict that Public Service Enterprise Group will post $2.73 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Saturday, September 6th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, September 3rd.

A number of other firms have also recently commented on PEG. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, July 23rd. They now have a $50.00 price target on the stock, up previously from $44.00. Separately, analysts at Macquarie cut their price target on shares of Public Service Enterprise Group from $39.00 to $38.00 in a research note on Monday, July 21st. Finally, analysts at Argus upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 16th. They now have a $44.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Hold” and an average price target of $39.67.

Public Service Enterprise Group Incorporated (NYSE:PEG) is an energy company.

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