Public Service Enterprise Group (NYSE:PEG) had its price objective hoisted by equities researchers at Macquarie from $55.50 to $57.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Macquarie’s price target indicates a potential upside of 11.31% from the stock’s current price.

PEG has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Wells Fargo & Co reduced their target price on shares of Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. Mizuho reaffirmed a “hold” rating and set a $50.00 target price on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Goldman Sachs Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $53.00 in a research report on Thursday, July 19th. Finally, ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $53.68.

Shares of NYSE PEG opened at $51.21 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.52 and a current ratio of 0.71. The stock has a market cap of $26.35 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Public Service Enterprise Group has a 12-month low of $45.73 and a 12-month high of $54.50.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. During the same period in the prior year, the company earned $0.62 EPS. sell-side analysts expect that Public Service Enterprise Group will post 3.09 EPS for the current year.

In other news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $50.60, for a total transaction of $1,054,149.80. Following the transaction, the chairman now directly owns 557,716 shares in the company, valued at $28,220,429.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 91,495 shares of company stock worth $4,797,012. Insiders own 0.58% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Old Port Advisors acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $798,000. Royal London Asset Management Ltd. acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $11,593,000. Northern Trust Corp boosted its stake in Public Service Enterprise Group by 1.3% in the second quarter. Northern Trust Corp now owns 5,783,332 shares of the utilities provider’s stock valued at $313,109,000 after acquiring an additional 71,786 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $344,000. Finally, HM Payson & Co. acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $201,000. Institutional investors own 68.40% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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