Public Service Enterprise Group Incorporated (NYSE:PEG) had its price target boosted by equities research analysts at Morgan Stanley from $51.00 to $53.00 in a research note issued on Friday. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 15.12% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.50 to $50.00 in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “neutral” rating and set 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 lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Public Service Enterprise Group presently has an average rating of “Buy” and a consensus target price of $48.38.

Public Service Enterprise Group (NYSE:PEG) traded up 0.89% during midday trading on Friday, hitting $46.45. 2,039,618 shares of the stock traded hands. The company’s 50-day moving average is $45.89 and its 200-day moving average is $44.60. The company has a market cap of $23.50 billion, a PE ratio of 52.19 and a beta of 0.39. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.57 EPS. Equities research analysts expect that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

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In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the transaction, the chairman now directly owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC grew its holdings in Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after acquiring an additional 202 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Public Service Enterprise Group by 19.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Public Service Enterprise Group by 0.8% in the 1st quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of Public Service Enterprise Group by 38.8% in the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after buying an additional 735 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its position in shares of Public Service Enterprise Group by 3.8% in the 1st quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares during the last quarter. 65.97% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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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