Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $51.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.31% from the stock’s previous close.

According to Zacks, “Public Service Enterprise’s consistent capital-investment plans backed by a stable liquidity position have the potential to boost its performance. Moreover, Public Service Enterprise boasts a solid portfolio of regulated and non-regulated utility assets that offer stable earnings and significant long-term growth potential. Apart from focusing on transmission and distribution infrastructure, the company is also expanding its renewable assets. Further, its share price outperformed the broader industry in past one year. However, environmental issues, such as restrictions on carbon dioxide emissions and other pollutants produced by Public Service Enterprise’s fossil units, may enhance compliance-related costs for the company.”

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Citigroup Inc. reiterated a “neutral” rating and issued a $49.00 target price (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Finally, BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $48.46.

Public Service Enterprise Group (NYSE PEG) opened at 45.82 on Thursday. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $47.47. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 51.48 and a beta of 0.39. The company has a 50-day moving average price of $46.19 and a 200-day moving average price of $44.65.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group will post $2.92 EPS for the current year.

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In related news, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ralph Izzo sold 30,000 shares of the firm’s 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 completion of the sale, the chairman now directly owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. In the last three months, insiders sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of PEG. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Public Service Enterprise Group by 19.7% in 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 in the last quarter. Hudock Capital Group LLC increased its holdings in shares of Public Service Enterprise Group by 38.8% in 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 in the last quarter. Parallel Advisors LLC increased its holdings in shares of 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 valued at $114,000 after purchasing an additional 20 shares in the last quarter. Vantage Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 35.3% in 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 in the last quarter. Finally, Kistler Tiffany Companies LLC increased its holdings in shares of Public Service Enterprise Group by 3.8% in 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 in the last quarter. 65.97% of the stock is owned by institutional investors and hedge funds.

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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