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.
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.
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.
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.
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