Public Service Enterprise Group (NYSE:PEG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Public Service Enterprise Group (NYSE:PEG) had its target price increased by investment analysts at Morgan Stanley from $96.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 20.14% from the stock’s current price.

PEG has been the topic of a number of other research reports. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Bank of America reduced their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $0.11 during midday trading on Thursday, hitting $83.24. The company’s stock had a trading volume of 354,011 shares, compared to its average volume of 2,537,713. Public Service Enterprise Group has a fifty-two week low of $63.54 and a fifty-two week high of $95.22. The firm’s 50 day moving average is $83.57 and its 200-day moving average is $86.02. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $41.50 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $0.54 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Equities analysts anticipate 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, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently added to or reduced their stakes in the business. Center for Financial Planning Inc. lifted its stake in shares of Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares in the last quarter. United Asset Strategies Inc. lifted its stake in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. 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.