Public Service Enterprise Group (NYSE:PEG) had its price objective boosted by Morgan Stanley from $67.00 to $69.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 13.37% from the company’s current price.
PEG has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. KeyCorp assumed coverage on Public Service Enterprise Group in a report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 price objective on the stock. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a report on Thursday, February 28th. Mizuho lifted their price objective on Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Wells Fargo & Co lifted their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.75.
Shares of NYSE PEG traded up $0.86 during midday trading on Friday, reaching $60.86. 306,503 shares of the company were exchanged, compared to its average volume of 1,734,338. The company has a quick ratio of 0.52, a current ratio of 0.68 and a debt-to-equity ratio of 0.91. Public Service Enterprise Group has a 1 year low of $49.22 and a 1 year high of $61.63. The firm has a market cap of $30.42 billion, a P/E ratio of 19.51, a P/E/G ratio of 3.10 and a beta of 0.41.
Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company posted $0.97 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group will post 3.27 earnings per share for the current year.
In other news, EVP Tamara Louise Linde sold 13,535 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $60.04, for a total transaction of $812,641.40. Following the completion of the sale, the executive vice president now directly owns 49,909 shares in the company, valued at approximately $2,996,536.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total transaction of $37,031.25. The disclosure for this sale can be found here. Insiders sold a total of 176,330 shares of company stock worth $10,384,926 in the last ninety days. 0.51% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of PEG. Zions Bancorporation N.A. acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $25,000. Athena Capital Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $33,000. Coastal Investment Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $37,000. Cresset Asset Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $43,000. Finally, Altshuler Shaham Ltd raised its position in shares of Public Service Enterprise Group by 44.4% during the 1st quarter. Altshuler Shaham Ltd now owns 728 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 68.88% of the company’s stock.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
Further Reading: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.