Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Rating Upgraded by Wolfe Research

Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by research analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a note issued to investors on Monday.

A number of other research firms have also weighed in on PEG. Barclays PLC lowered their price target on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, April 4th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, July 4th. Deutsche Bank AG lowered their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. BidaskClub lowered shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.10.

Public Service Enterprise Group (NYSE PEG) traded up 0.32% during mid-day trading on Monday, reaching $43.70. 643,514 shares of the company traded hands. Public Service Enterprise Group has a 52-week low of $39.28 and a 52-week high of $46.68. The stock has a 50-day moving average of $43.64 and a 200 day moving average of $44.03. The stock has a market capitalization of $22.11 billion, a PE ratio of 42.02 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities research analysts expect that Public Service Enterprise Group will post $2.90 earnings per share for the current year.

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In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $43.82, for a total transaction of $1,314,600.00. Following the completion of the transaction, the chairman now directly owns 748,691 shares of the company’s stock, valued at approximately $32,807,639.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ralph A. Larossa sold 24,021 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,021 shares of company stock valued at $3,733,335. 0.61% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after buying an additional 40,125 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares in the last quarter. Wsfs Capital Management LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $413,000. Bank of Montreal Can raised its position in shares of Public Service Enterprise Group by 47.8% in the first quarter. Bank of Montreal Can now owns 1,004,699 shares of the utilities provider’s stock valued at $44,559,000 after buying an additional 325,079 shares in the last quarter. Finally, DT Investment Partners LLC raised its position in shares of Public Service Enterprise Group by 15.9% in the first quarter. DT Investment Partners LLC now owns 22,646 shares of the utilities provider’s stock valued at $1,004,000 after buying an additional 3,115 shares in the last quarter. 66.42% of the stock is owned by institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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