Public Service Enterprise Group (NYSE:PEG) PT Raised to $55.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by investment analysts at JPMorgan Chase & Co. from $54.00 to $55.00 in a research report issued to clients and investors on Tuesday, May 29th. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 5.32% from the stock’s current price.

PEG has been the topic of several other research reports. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Tuesday, February 13th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, March 8th. Guggenheim reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Public Service Enterprise Group in a research note on Friday, February 23rd. Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a report on Monday, April 16th. Finally, UBS Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, February 2nd. They issued a “neutral” rating and a $52.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus target price of $52.32.

Public Service Enterprise Group stock traded up $0.44 during trading hours on Tuesday, hitting $52.22. 2,171,784 shares of the company traded hands, compared to its average volume of 3,162,469. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.67 and a beta of 0.41. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group has a 1-year low of $41.67 and a 1-year high of $53.33.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, April 30th. The utilities provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.02). The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.74 billion. Public Service Enterprise Group had a net margin of 21.68% and a return on equity of 11.22%. During the same period in the previous year, the business posted $0.92 EPS. research analysts expect that Public Service Enterprise Group will post 3.11 earnings per share for the current fiscal year.

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 16,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $50.36, for a total value of $825,904.00. Following the completion of the sale, the executive vice president now directly owns 51,604 shares in the company, valued at $2,598,777.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $49.90, for a total transaction of $1,039,566.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,899 shares of company stock valued at $4,042,936. 0.58% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chesapeake Wealth Management acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $365,000. Suntrust Banks Inc. lifted its stake in Public Service Enterprise Group by 7.1% in the first quarter. Suntrust Banks Inc. now owns 287,695 shares of the utilities provider’s stock valued at $14,452,000 after acquiring an additional 18,958 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Public Service Enterprise Group by 24.8% in the first quarter. Summit Trail Advisors LLC now owns 7,496 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 1,489 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Public Service Enterprise Group by 5.0% in the first quarter. Principal Financial Group Inc. now owns 827,689 shares of the utilities provider’s stock valued at $41,583,000 after purchasing an additional 39,250 shares during the period. Finally, WINTON GROUP Ltd raised its position in shares of Public Service Enterprise Group by 24.4% in the first quarter. WINTON GROUP Ltd now owns 6,774 shares of the utilities provider’s stock valued at $340,000 after purchasing an additional 1,328 shares during the period. Hedge funds and other institutional investors own 68.23% of the company’s stock.

About Public Service Enterprise Group

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.

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

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