Public Service Enterprise Group (PEG) Given a $58.00 Price Target by Morgan Stanley Analysts

Public Service Enterprise Group (NYSE:PEG) has been assigned a $58.00 price target by equities researchers at Morgan Stanley in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 14.44% from the stock’s current price.

PEG has been the subject of a number of other research reports. Goldman Sachs Group cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $53.00 in a research note on Thursday, July 19th. Wells Fargo & Co cut their target price on shares of Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. Macquarie lifted their target price on shares of Public Service Enterprise Group from $55.50 to $57.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup lifted their target price on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 9th. Finally, Deutsche Bank cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.61.

NYSE PEG opened at $50.68 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.52 and a current ratio of 0.71. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.82 and a beta of 0.32. Public Service Enterprise Group has a 1-year low of $45.73 and a 1-year high of $54.50.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. sell-side analysts predict that Public Service Enterprise Group will post 3.09 EPS for the current year.

In related news, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $50.60, for a total value of $1,054,149.80. Following the completion of the transaction, the chairman now owns 557,716 shares in the company, valued at approximately $28,220,429.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 91,495 shares of company stock valued at $4,797,012 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Trust Co raised its position in Public Service Enterprise Group by 18.6% in the 1st quarter. Trust Co now owns 6,129 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 961 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Public Service Enterprise Group by 3.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 30,718 shares of the utilities provider’s stock worth $1,663,000 after acquiring an additional 993 shares during the period. Hudson Capital Management LLC grew its holdings in Public Service Enterprise Group by 20.5% during the 2nd quarter. Hudson Capital Management LLC now owns 5,886 shares of the utilities provider’s stock worth $319,000 after acquiring an additional 1,000 shares during the period. State Treasurer State of Michigan grew its holdings in Public Service Enterprise Group by 0.7% during the 2nd quarter. State Treasurer State of Michigan now owns 149,622 shares of the utilities provider’s stock worth $8,101,000 after acquiring an additional 1,000 shares during the period. Finally, Hartford Financial Management Inc. grew its holdings in Public Service Enterprise Group by 40.0% during the 2nd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the utilities provider’s stock worth $189,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 68.40% 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; and 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.

See Also: How to Invest in Growth Stocks

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

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.

Leave a Reply