Morgan Stanley Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $83.00

Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by Morgan Stanley from $78.00 to $83.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 2.42% from the company’s previous close.

Several other brokerages have also recently issued reports on PEG. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Monday, June 17th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Mizuho boosted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $76.67.

Public Service Enterprise Group Trading Down 0.1 %

NYSE PEG opened at $81.04 on Friday. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.00 and a beta of 0.59. The stock’s 50 day moving average price is $76.54 and its two-hundred day moving average price is $70.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $36,000. Finally, Salomon & Ludwin LLC increased its position in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. 73.34% of the stock is 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.