Public Service Enterprise Group (NYSE:PEG) PT Raised to $100.00 at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) had its price target boosted by Wells Fargo & Company from $85.00 to $100.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other research firms have also issued reports on PEG. Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $86.92.

Public Service Enterprise Group Trading Up 0.1 %

Public Service Enterprise Group stock opened at $89.76 on Wednesday. Public Service Enterprise Group has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a market cap of $44.71 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.69 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business has a 50-day simple moving average of $84.72 and a two-hundred day simple moving average of $77.02.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Family Firm Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $36,000. Salomon & Ludwin LLC grew its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.