Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $51.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.14% from the company’s current price.

According to Zacks, “Public Service Enterprise’s consistent capital-investment plans backed by a stable liquidity position have the potential to boost its performance. Moreover, Public Service Enterprise boasts a solid portfolio of regulated and non-regulated utility assets that offer stable earnings and significant long-term growth potential. Apart from focusing on transmission and distribution infrastructure, the company is also expanding its renewable assets. Further, its share price outperformed the broader industry in past one year. However, environmental issues, such as restrictions on carbon dioxide emissions and other pollutants produced by Public Service Enterprise’s fossil units, may enhance compliance-related costs for the company.”

PEG has been the topic of a number of other research reports. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Finally, BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.46.

Public Service Enterprise Group (PEG) opened at 45.34 on Thursday. Public Service Enterprise Group has a 12 month low of $39.28 and a 12 month high of $47.47. The company has a market cap of $22.94 billion, a price-to-earnings ratio of 50.94 and a beta of 0.39. The company’s 50 day moving average is $46.05 and its 200-day moving average is $44.64.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company earned $0.57 EPS. On average, analysts expect that Public Service Enterprise Group will post $2.92 earnings per share for the current fiscal year.

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In other news, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chairman now owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,900 shares of company stock valued at $2,413,947. Insiders own 0.61% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew 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 acquiring an additional 381 shares in the last quarter. Mascoma Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $110,000. Hudock Capital Group LLC grew 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 acquiring an additional 735 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $114,000. Finally, Huntington National Bank grew its position in shares of Public Service Enterprise Group by 7.8% in the 3rd quarter. Huntington National Bank now owns 2,734 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 65.97% 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.

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

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