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 boosted by research analysts at Morgan Stanley from $96.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 20.49% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Bank of America decreased their price objective 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. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Trading Down 0.4 %

Public Service Enterprise Group stock opened at $83.00 on Thursday. The stock has a market cap of $41.38 billion, a PE ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $83.50 and a 200 day moving average price of $86.02. Public Service Enterprise Group has a 52 week low of $64.03 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Equities research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal 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 firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC raised its position in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the period. DRW Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $8,244,000. Cullen Investment Group LTD. increased its position in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $2,565,000. 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.