Public Service Enterprise Group (PEG) Rating Increased to Outperform at Macquarie

Public Service Enterprise Group (NYSE:PEG) was upgraded by equities researchers at Macquarie from a “neutral” rating to an “outperform” rating in a report issued on Monday.

Other analysts also recently issued reports about the company. Argus raised their target price on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, October 10th. Guggenheim reaffirmed a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, January 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $46.50 target price on shares of Public Service Enterprise Group in a research note on Thursday, October 12th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a research note on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.32.

Public Service Enterprise Group (PEG) opened at $49.80 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $25,200.73, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 5.94 and a beta of 0.41. Public Service Enterprise Group has a fifty-two week low of $41.67 and a fifty-two week high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. equities research analysts forecast that Public Service Enterprise Group will post 2.93 earnings per share for the current fiscal year.

In related news, Chairman Ralph Izzo sold 60,793 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $49.70, for a total transaction of $3,021,412.10. Following the completion of the sale, the chairman now directly owns 748,778 shares of the company’s stock, valued at approximately $37,214,266.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Insiders have sold a total of 144,071 shares of company stock valued at $7,275,472 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Several large investors have recently modified their holdings of PEG. Grove Bank & Trust increased its position in shares of Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,539 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 202 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 13.8% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 424 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $185,000. Finally, Evercore Wealth Management LLC grew its position in Public Service Enterprise Group by 5.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 4,323 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 205 shares in the last quarter. 66.73% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Public Service Enterprise Group (PEG) Rating Increased to Outperform at Macquarie” was posted by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://weekherald.com/2018/01/22/public-service-enterprise-group-peg-rating-increased-to-outperform-at-macquarie.html.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply