Evercore ISI Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $95.00

by · The Markets Daily

Public Service Enterprise Group (NYSE:PEG – Get Free Report) had its price objective hoisted by equities researchers at Evercore ISI from $92.00 to $95.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s target price would indicate a potential upside of 5.51% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. 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 price target for the company. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group lifted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.62.

View Our Latest Analysis on Public Service Enterprise Group

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $90.04 on Tuesday. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $44.85 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.32 and a beta of 0.61. The firm’s fifty day moving average price is $83.10 and its 200 day moving average price is $75.81.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. On average, research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,446 shares of company stock valued at $2,531,260 in the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors have recently bought and sold shares of the stock. LVW Advisors LLC increased its stake in Public Service Enterprise Group by 8.2% during the 3rd quarter. LVW Advisors LLC now owns 9,252 shares of the utilities provider’s stock valued at $825,000 after buying an additional 705 shares during the period. Towerpoint Wealth LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $204,000. Merrion Investment Management Co LLC raised its holdings in Public Service Enterprise Group by 4.6% during the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock worth $1,008,000 after purchasing an additional 500 shares in the last quarter. Cypress Wealth Services LLC acquired a new stake in Public Service Enterprise Group in the third quarter worth approximately $228,000. Finally, Morton Capital Management LLC CA bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $245,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

(Get Free Report)

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.

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