KeyCorp Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $60.00

Public Service Enterprise Group (NYSE:PEG) had its price objective cut by KeyCorp from $66.00 to $60.00 in a research report issued on Tuesday, AR Network reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target would suggest a potential upside of 2.25% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, December 15th. Bank of America raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and decreased their target price for the company from $58.00 to $57.00 in a research note on Tuesday, September 22nd. Mizuho decreased their target price on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, January 8th. Barclays lifted their target price on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 18th. Finally, Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $63.46.

Public Service Enterprise Group stock opened at $58.68 on Tuesday. The company has a 50 day moving average price of $57.39 and a 200 day moving average price of $55.57. Public Service Enterprise Group has a 52 week low of $34.75 and a 52 week high of $62.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.51 and a current ratio of 0.65. The firm has a market capitalization of $29.68 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 5.05 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, October 30th. The utilities provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group will post 3.39 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Dimension Capital Management LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth $26,000. CX Institutional raised its holdings in Public Service Enterprise Group by 145.4% in the 3rd quarter. CX Institutional now owns 589 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 349 shares during the period. Marshall & Sullivan Inc. WA bought a new position in Public Service Enterprise Group in the 3rd quarter worth $43,000. McIlrath & Eck LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth $44,000. Finally, Berman Capital Advisors LLC raised its holdings in Public Service Enterprise Group by 70.8% in the 3rd quarter. Berman Capital Advisors LLC now owns 796 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 330 shares during the period. Institutional investors and hedge funds own 68.23% 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 PSEG 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.

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

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