Public Service Enterprise Group (NYSE:PEG) PT Raised to $52.00 at JPMorgan Chase

Public Service Enterprise Group (NYSE:PEG) had its target price raised by equities research analysts at JPMorgan Chase from $50.00 to $52.00 in a research report issued on Tuesday, April 10th. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase’s target price suggests a potential upside of 3.07% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo reissued an “outperform” rating and issued a $56.00 price objective (down previously from $59.00) on shares of Public Service Enterprise Group in a report on Monday, February 26th. Guggenheim reissued a “buy” rating and issued a $56.00 price objective on shares of Public Service Enterprise Group in a report on Friday, February 23rd. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, February 19th. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. Finally, Mizuho lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a report on Monday, February 5th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $51.61.

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NYSE PEG opened at $50.45 on Tuesday. The firm has a market cap of $25,677.38, a PE ratio of 17.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.39. Public Service Enterprise Group has a one year low of $41.67 and a one year high of $53.28. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, February 23rd. The utilities provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. Public Service Enterprise Group had a return on equity of 11.25% and a net margin of 17.33%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business posted $0.54 EPS. sell-side analysts forecast that Public Service Enterprise Group will post 3.13 EPS for the current fiscal year.

In other news, CEO Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $51.00, for a total transaction of $1,062,483.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 16,400 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $50.36, for a total value of $825,904.00. Following the transaction, the executive vice president now directly owns 51,604 shares of the company’s stock, valued at approximately $2,598,777.44. The disclosure for this sale can be found here. Insiders have sold a total of 78,899 shares of company stock valued at $3,935,438 in the last ninety days. Insiders own 0.58% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Prentiss Smith & Co. Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $113,000. Avestar Capital LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $106,000. Gradient Investments LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $163,000. Tower Research Capital LLC TRC lifted its position in Public Service Enterprise Group by 253.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,790 shares of the utilities provider’s stock worth $195,000 after buying an additional 2,717 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $206,000. 68.37% of the stock is owned by institutional investors.

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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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