BMO Capital Markets Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $74.00

Public Service Enterprise Group (NYSE:PEG) had its price objective lifted by investment analysts at BMO Capital Markets from $69.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 0.01% from the company’s previous close.

PEG has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Scotiabank dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Mizuho increased their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.42.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $73.99 on Wednesday. The stock has a 50-day moving average price of $73.11 and a two-hundred day moving average price of $66.01. Public Service Enterprise Group has a 12 month low of $53.71 and a 12 month high of $75.82. The company has a market capitalization of $36.85 billion, a PE ratio of 20.50, a P/E/G ratio of 3.05 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $1.39 EPS. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group will post 3.68 EPS for the current year.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently modified their holdings of PEG. Addison Advisors LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $31,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $36,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $37,000. Finally, Salomon & Ludwin LLC boosted its holdings in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.