Morgan Stanley Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $76.00

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by equities research analysts at Morgan Stanley from $78.00 to $76.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 1.95% from the company’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Evercore ISI boosted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.50.

Public Service Enterprise Group Stock Up 2.1 %

NYSE PEG traded up $1.54 on Monday, reaching $74.55. The stock had a trading volume of 538,990 shares, compared to its average volume of 2,799,892. The business has a 50 day moving average price of $71.83 and a 200 day moving average price of $65.42. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group has a 1 year low of $53.71 and a 1 year high of $75.82. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 3.06 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 2,948 shares of company stock valued at $199,910. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in PEG. LPL Financial LLC grew its stake in shares of Public Service Enterprise Group by 11.4% in the 3rd quarter. LPL Financial LLC now owns 340,715 shares of the utilities provider’s stock valued at $19,390,000 after purchasing an additional 34,939 shares during the period. Mariner LLC grew its stake in shares of Public Service Enterprise Group by 4.3% in the 3rd quarter. Mariner LLC now owns 138,083 shares of the utilities provider’s stock valued at $7,858,000 after purchasing an additional 5,752 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $905,000. Stifel Financial Corp grew its stake in shares of Public Service Enterprise Group by 1.7% in the 3rd quarter. Stifel Financial Corp now owns 147,656 shares of the utilities provider’s stock valued at $8,403,000 after purchasing an additional 2,481 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Public Service Enterprise Group by 25.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,243 shares of the utilities provider’s stock valued at $185,000 after purchasing an additional 658 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.