Public Service Enterprise Group (PEG) Rating Increased to Buy at Bank of America

Public Service Enterprise Group (NYSE:PEG) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat.com reports.

Other equities research analysts also recently issued research reports about the stock. Guggenheim reiterated a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, January 3rd. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of 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 report on Tuesday, February 13th. Mizuho reiterated a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a research report on Friday, March 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $52.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, March 14th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.61.

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PEG stock opened at $50.87 on Monday. Public Service Enterprise Group has a 12-month low of $41.67 and a 12-month high of $53.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.59. The company has a market capitalization of $25,177.66, a price-to-earnings ratio of 17.36, a P/E/G ratio of 4.07 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, February 23rd. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Public Service Enterprise Group had a net margin of 17.33% and a return on equity of 11.25%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. research analysts expect that Public Service Enterprise Group will post 3.15 earnings per share for the current fiscal year.

In related news, CEO Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $51.00, for a total value of $1,062,483.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 16,400 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $50.36, for a total transaction of $825,904.00. Following the completion of the transaction, the executive vice president now owns 51,604 shares in the company, valued at $2,598,777.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,899 shares of company stock worth $3,935,438. 0.58% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Boston Advisors LLC grew its stake in Public Service Enterprise Group by 0.4% in the 4th quarter. Boston Advisors LLC now owns 234,061 shares of the utilities provider’s stock valued at $12,054,000 after buying an additional 1,017 shares during the last quarter. Mariner Wealth Advisors LLC grew its stake in Public Service Enterprise Group by 11.0% in the 4th quarter. Mariner Wealth Advisors LLC now owns 11,360 shares of the utilities provider’s stock valued at $585,000 after buying an additional 1,122 shares during the last quarter. BB&T Investment Services Inc. grew its stake in Public Service Enterprise Group by 14.2% in the 4th quarter. BB&T Investment Services Inc. now owns 9,541 shares of the utilities provider’s stock valued at $486,000 after buying an additional 1,183 shares during the last quarter. Tompkins Financial Corp grew its stake in Public Service Enterprise Group by 1.9% in the 4th quarter. Tompkins Financial Corp now owns 69,497 shares of the utilities provider’s stock valued at $3,579,000 after buying an additional 1,329 shares during the last quarter. Finally, Rare Infrastructure Ltd grew its stake in Public Service Enterprise Group by 42.4% in the 4th quarter. Rare Infrastructure Ltd now owns 4,765 shares of the utilities provider’s stock valued at $246,000 after buying an additional 1,418 shares during the last quarter. Institutional investors and hedge funds own 68.37% of the company’s stock.

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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)

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