Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by investment analysts at Mizuho from a “neutral” rating to a “buy” rating in a report released on Friday, Marketbeat reports. The brokerage presently has a $50.00 target price on the utilities provider’s stock, up from their previous target price of $44.50. Mizuho’s price target would indicate a potential upside of 9.82% from the stock’s current price.

PEG has been the topic of a number of other reports. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.21.

Public Service Enterprise Group (NYSE:PEG) traded down 0.18% during mid-day trading on Friday, hitting $45.53. The company had a trading volume of 2,529,073 shares. Public Service Enterprise Group has a 1-year low of $39.28 and a 1-year high of $46.14. The stock has a market capitalization of $23.03 billion, a PE ratio of 51.16 and a beta of 0.38. The stock has a 50 day moving average price of $43.92 and a 200-day moving average price of $44.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company posted $0.57 EPS. On average, analysts forecast that Public Service Enterprise Group will post $2.92 earnings per share for the current year.

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In other news, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The disclosure for this sale can be found here. Insiders sold a total of 77,421 shares of company stock worth $3,389,397 over the last 90 days. Insiders own 0.61% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Global Financial Private Capital LLC acquired a new position in Public Service Enterprise Group during the second quarter worth about $7,324,000. Ontario Teachers Pension Plan Board increased its position in Public Service Enterprise Group by 8.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 208,287 shares of the utilities provider’s stock worth $8,958,000 after buying an additional 16,502 shares in the last quarter. Veritable L.P. increased its position in Public Service Enterprise Group by 1.8% in the second quarter. Veritable L.P. now owns 37,340 shares of the utilities provider’s stock worth $1,606,000 after buying an additional 661 shares in the last quarter. Evercore Wealth Management LLC increased its position in Public Service Enterprise Group by 5.0% in the second quarter. Evercore Wealth Management LLC now owns 4,323 shares of the utilities provider’s stock worth $186,000 after buying an additional 205 shares in the last quarter. Finally, Blackstart Capital LP increased its position in Public Service Enterprise Group by 30.9% in the second quarter. Blackstart Capital LP now owns 366,207 shares of the utilities provider’s stock worth $15,726,000 after buying an additional 86,449 shares in the last quarter. Hedge funds and other institutional investors own 65.76% of the company’s stock.

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.

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

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