BMO Capital Markets Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $89.00

Public Service Enterprise Group (NYSE:PEGGet Free Report) had its price objective upped by research analysts at BMO Capital Markets from $86.00 to $89.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential downside of 1.44% from the stock’s previous close.

PEG has been the topic of several other reports. Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. Scotiabank raised their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. 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 report on Monday, September 23rd. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Bank of America upped their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Get Our Latest Analysis on Public Service Enterprise Group

Public Service Enterprise Group Stock Performance

PEG traded up $0.54 during trading on Monday, hitting $90.30. The stock had a trading volume of 26,081 shares, compared to its average volume of 2,796,192. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company has a 50 day moving average price of $84.72 and a 200-day moving average price of $77.10. Public Service Enterprise Group has a one year low of $56.85 and a one year high of $92.20. The firm has a market cap of $44.98 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. As a group, research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC increased its stake in Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after acquiring an additional 131 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after acquiring an additional 135 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 153 shares during the last quarter. Finally, Leisure Capital Management increased its holdings in Public Service Enterprise Group by 1.1% during the 3rd quarter. Leisure Capital Management now owns 14,875 shares of the utilities provider’s stock worth $1,327,000 after purchasing an additional 157 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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