Wells Fargo & Company Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $100.00

Public Service Enterprise Group (NYSE:PEG) had its price objective lifted by Wells Fargo & Company from $85.00 to $100.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts also recently commented on PEG. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. UBS Group raised their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.92.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG stock opened at $89.76 on Wednesday. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a market capitalization of $44.71 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.69 and a beta of 0.61. The firm has a 50-day moving average price of $84.72 and a 200 day moving average price of $76.95. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. Research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last quarter. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the second quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 1st quarter valued at $36,000. Salomon & Ludwin LLC grew its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares in the last quarter. Finally, PFS Partners LLC increased its position in shares of Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 300 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Company Profile

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.