Wells Fargo & Company Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by analysts at Wells Fargo & Company from $100.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.05% from the stock’s current price.

A number of other equities research analysts also recently commented on PEG. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. UBS Group increased their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.42.

Public Service Enterprise Group Trading Down 1.3 %

NYSE PEG opened at $83.30 on Wednesday. Public Service Enterprise Group has a 12-month low of $59.29 and a 12-month high of $95.22. The company has a fifty day simple moving average of $84.91 and a two-hundred day simple moving average of $86.05. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market cap of $41.50 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. On average, analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEG. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock valued at $5,134,882,000 after acquiring an additional 492,517 shares during the last quarter. Geode Capital Management LLC raised its stake in Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock valued at $1,027,725,000 after purchasing an additional 365,666 shares during the last quarter. Invesco Ltd. raised its stake in Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock valued at $551,323,000 after purchasing an additional 604,978 shares during the last quarter. Northern Trust Corp lifted its holdings in Public Service Enterprise Group by 6.1% in the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider’s stock valued at $490,644,000 after purchasing an additional 335,135 shares in the last quarter. Finally, FMR LLC boosted its stake in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

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.