Morgan Stanley Trims Public Service Enterprise Group (PEG) Target Price to $52.00

Public Service Enterprise Group (NYSE:PEG) had its price objective lowered by research analysts at Morgan Stanley from $54.00 to $52.00 in a report issued on Tuesday. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.64% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Bank of America started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $58.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, January 3rd. Argus lifted their price target on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Wells Fargo & Co upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $51.04.

Shares of Public Service Enterprise Group (NYSE:PEG) opened at $47.43 on Tuesday. Public Service Enterprise Group has a 12-month low of $41.67 and a 12-month high of $53.28. The firm has a market cap of $23,905.27, a PE ratio of 46.23, a price-to-earnings-growth ratio of 4.46 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $51.50, for a total transaction of $112,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph Izzo sold 20,833 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $51.00, for a total transaction of $1,062,483.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,684 shares of company stock valued at $3,344,767 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Grove Bank & Trust lifted its position in shares of Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,539 shares during the last quarter. Gradient Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $163,000. Chicago Partners Investment Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $185,000. Cable Hill Partners LLC lifted its position in shares of Public Service Enterprise Group by 33.4% during the 3rd quarter. Cable Hill Partners LLC now owns 4,093 shares of the utilities provider’s stock worth $190,000 after buying an additional 1,025 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Public Service Enterprise Group by 253.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,790 shares of the utilities provider’s stock worth $195,000 after buying an additional 2,717 shares during the last quarter. Institutional investors own 66.40% of the company’s stock.

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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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