Public Service Enterprise Group (NYSE:PEG) PT Raised to $95.00 at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its price objective hoisted by research analysts at Morgan Stanley from $83.00 to $95.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 8.70% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, June 17th. Scotiabank upped their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Barclays lifted their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.85.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $87.40 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $87.40. The business has a 50 day simple moving average of $79.70 and a 200-day simple moving average of $73.67.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock valued at $2,406,965 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its position in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT acquired a new position in shares of Public Service Enterprise Group in the second quarter worth about $71,298,000. Hsbc Holdings PLC increased its position in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after acquiring an additional 667,773 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after acquiring an additional 634,587 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.