Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $100.00

Public Service Enterprise Group (NYSE:PEG) had its price objective hoisted by investment analysts at Morgan Stanley from $96.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 20.14% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Stock Up 0.1 %

Public Service Enterprise Group stock traded up $0.11 during midday trading on Thursday, hitting $83.24. 354,011 shares of the company were exchanged, compared to its average volume of 2,537,713. The company’s fifty day moving average price is $83.57 and its 200-day moving average price is $86.02. The company has a market cap of $41.50 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 has a fifty-two week low of $63.54 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.54 EPS. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently modified their holdings of the stock. Center for Financial Planning Inc. increased its holdings in Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management increased its holdings in Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA increased its holdings in Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares in the last quarter. United Asset Strategies Inc. increased its holdings in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.