Public Service Enterprise Group (NYSE:PEG – Get Free Report) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $84.00 target price on the utilities provider’s stock, down from their previous target price of $88.00. Barclays‘s price target points to a potential upside of 2.81% from the company’s current price.
PEG has been the subject of several other reports. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. 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 note on Wednesday, October 30th. Finally, BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $88.83.
Get Our Latest Stock Report on Public Service Enterprise Group
Public Service Enterprise Group Trading Down 0.5 %
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.
Insider Activity at Public Service Enterprise Group
In related news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 in the last quarter. Company insiders own 0.57% of the company’s stock.
Institutional Investors Weigh In On Public Service Enterprise Group
Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $48,000. Financial Life Planners acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $56,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $57,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $59,000. 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.
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