Argus Increases Public Service Enterprise Group Incorporated (PEG) Price Target to $56.00

Public Service Enterprise Group Incorporated (NYSE:PEG) had its price objective increased by Argus from $51.00 to $56.00 in a report released on Wednesday, October 25th. Argus currently has a buy rating on the utilities provider’s stock.

Several other analysts have also commented on PEG. BidaskClub raised Public Service Enterprise Group from a strong sell rating to a sell rating in a research note on Monday, July 24th. Zacks Investment Research raised Public Service Enterprise Group from a hold rating to a buy rating and set a $53.00 price target on the stock in a research note on Tuesday, October 10th. Bank of America Corporation assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a neutral rating and a $49.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Public Service Enterprise Group currently has an average rating of Buy and a consensus target price of $50.42.

Public Service Enterprise Group (NYSE:PEG) opened at $50.38 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $25,438.57, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 6.58 and a beta of 0.39. Public Service Enterprise Group has a 1 year low of $39.28 and a 1 year high of $50.56.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. equities analysts anticipate that Public Service Enterprise Group will post 2.92 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/12/public-service-enterprise-group-incorporated-peg-pt-raised-to-56-00.html.

In related news, Chairman Ralph Izzo sold 6,427 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $49.45, for a total transaction of $317,815.15. Following the completion of the transaction, the chairman now directly owns 708,728 shares of the company’s stock, valued at $35,046,599.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders have sold 209,433 shares of company stock valued at $10,247,152 over the last ninety days. 0.61% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in shares of Public Service Enterprise Group by 16.3% in the third quarter. Wells Fargo & Company MN now owns 2,681,594 shares of the utilities provider’s stock valued at $124,024,000 after buying an additional 376,379 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $545,000. Amalgamated Bank lifted its position in shares of Public Service Enterprise Group by 1.9% in the third quarter. Amalgamated Bank now owns 58,042 shares of the utilities provider’s stock valued at $2,684,000 after buying an additional 1,110 shares during the last quarter. Twin Capital Management Inc. lifted its position in shares of Public Service Enterprise Group by 13.8% in the third quarter. Twin Capital Management Inc. now owns 145,350 shares of the utilities provider’s stock valued at $6,722,000 after buying an additional 17,590 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 17.0% in the third quarter. Cadence Capital Management LLC now owns 30,128 shares of the utilities provider’s stock valued at $1,393,000 after buying an additional 4,372 shares during the last quarter. 65.02% of the stock is owned by hedge funds and other 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.

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

Receive News & Ratings for Public Service Enterprise Group Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply