Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages also recently commented on PEG. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. Barclays PLC upped their price objective on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $48.21.

Shares of Public Service Enterprise Group (NYSE:PEG) traded up 1.21% during mid-day trading on Friday, reaching $46.86. The company’s stock had a trading volume of 1,179,746 shares. The company’s 50-day moving average is $44.22 and its 200 day moving average is $44.26. Public Service Enterprise Group has a 12 month low of $39.28 and a 12 month high of $46.95. The firm has a market cap of $23.71 billion, a price-to-earnings ratio of 52.65 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group will post $2.92 EPS for the current year.

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In related news, Chairman Ralph Izzo sold 23,400 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the transaction, the chairman now directly owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Welch & Forbes LLC increased its position in Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC increased its position in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the last quarter. Premier Asset Management LLC increased its position in Public Service Enterprise Group by 0.6% in the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock worth $230,000 after buying an additional 31 shares during the last quarter. Cutter & CO Brokerage Inc. increased its position in Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after buying an additional 38 shares during the last quarter. Finally, Wsfs Capital Management LLC increased its position in Public Service Enterprise Group by 0.5% in the second quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock worth $392,000 after buying an additional 44 shares during the last quarter. 66.32% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

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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