Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $100.00 at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its target price raised by Morgan Stanley from $96.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 20.49% from the company’s previous close.

Other equities analysts also recently issued reports about the company. 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 research report on Thursday, December 12th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company cut 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, February 26th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.00 on Thursday. 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 business has a 50 day moving average of $83.50 and a two-hundred day moving average of $86.02. Public Service Enterprise Group has a 52 week low of $64.03 and a 52 week high of $95.22. The company has a market cap of $41.38 billion, a P/E ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60.

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

Insider Buying and Selling at Public Service Enterprise Group

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

Institutional Trading of Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in the company. 111 Capital acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $349,000. Thoma Capital Management LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $253,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Public Service Enterprise Group by 10.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 86,525 shares of the utilities provider’s stock valued at $7,310,000 after acquiring an additional 8,022 shares in the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Public Service Enterprise Group by 15.2% during the 4th quarter. Siemens Fonds Invest GmbH now owns 6,211 shares of the utilities provider’s stock valued at $525,000 after acquiring an additional 820 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $77,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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.