Public Service Enterprise Group (NYSE:PEG) Given New $101.00 Price Target at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its target price reduced by investment analysts at Morgan Stanley from $102.00 to $101.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 29.59% from the company’s previous close.

Several other brokerages also recently weighed in on PEG. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays lowered their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Finally, Guggenheim reduced their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.88.

Public Service Enterprise Group Stock Down 1.8%

PEG opened at $77.94 on Thursday. The company has a market capitalization of $38.89 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The business has a 50-day moving average of $80.80 and a 200-day moving average of $83.95. Public Service Enterprise Group has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Center for Financial Planning Inc. raised its position in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares in the last quarter. Spire Wealth Management increased its position in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 121 shares during the period. Centre Asset Management LLC raised its stake in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 121 shares in the last quarter. United Asset Strategies Inc. lifted its position in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 127 shares during the period. Finally, FourThought Financial Partners LLC grew its stake in Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after buying an additional 127 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.