Public Service Enterprise Group Incorporated (NYSE:PEG) had its price target boosted by investment analysts at Morgan Stanley from $51.00 to $53.00 in a report released on Friday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 14.10% from the company’s current price.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, August 1st. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.50 to $50.00 in a report on Friday, August 11th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus target price of $48.38.

Public Service Enterprise Group (NYSE PEG) traded up 0.89% during midday trading on Friday, hitting $46.45. 2,043,428 shares of the stock were exchanged. The stock has a market cap of $23.50 billion, a price-to-earnings ratio of 52.19 and a beta of 0.39. Public Service Enterprise Group has a 12-month low of $39.28 and a 12-month high of $47.47. The firm has a 50 day moving average of $45.94 and a 200-day moving average of $44.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates 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 EPS. On average, equities analysts expect that Public Service Enterprise Group will post $2.92 earnings per share for the current year.

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In other news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the sale, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Insiders have sold 54,900 shares of company stock worth $2,413,947 in the last quarter. Insiders own 0.61% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PEG. Bronfman E.L. Rothschild L.P. raised its stake in shares of Public Service Enterprise Group by 19.7% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 381 shares during the period. Hudock Capital Group LLC raised its stake in shares of Public Service Enterprise Group by 38.8% during the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 735 shares during the period. Parallel Advisors LLC raised its stake in shares of Public Service Enterprise Group by 0.8% during the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 20 shares during the period. Vantage Investment Advisors LLC raised its stake in shares of Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 700 shares during the period. Finally, Kistler Tiffany Companies LLC raised its stake in shares of Public Service Enterprise Group by 3.8% during the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 99 shares during the period. Institutional investors own 65.97% of the company’s stock.

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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