BMO Capital Markets Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price objective hoisted by investment analysts at BMO Capital Markets from $85.00 to $86.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 6.49% from the company’s current price.

Several other research analysts have also commented on PEG. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Public Service Enterprise Group Stock Down 2.6 %

PEG stock opened at $80.76 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $40.24 billion, a PE ratio of 19.84, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group has a twelve month low of $61.36 and a twelve month high of $95.22. The stock has a 50-day simple moving average of $84.86 and a two-hundred day simple moving average of $85.99.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently made changes to their positions in PEG. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $25,000. REAP Financial Group LLC lifted its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter valued at about $35,000. 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.