Wells Fargo & Company Trims Public Service Enterprise Group (NYSE:PEG) Target Price to $64.00

Public Service Enterprise Group (NYSE:PEGGet Rating) had its target price dropped by research analysts at Wells Fargo & Company from $65.00 to $64.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.13% from the stock’s current price.

PEG has been the topic of a number of other research reports. Barclays cut their target price on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Mizuho dropped their price target on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Credit Suisse Group initiated coverage on Public Service Enterprise Group in a research report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

Public Service Enterprise Group Stock Down 1.0 %

Public Service Enterprise Group stock opened at $64.73 on Wednesday. The stock’s fifty day moving average is $63.29 and its two-hundred day moving average is $66.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.89 and a quick ratio of 0.79. Public Service Enterprise Group has a 1-year low of $58.19 and a 1-year high of $75.61. The stock has a market cap of $32.32 billion, a PE ratio of -33.03, a P/E/G ratio of 5.30 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Public Service Enterprise Group had a positive return on equity of 13.10% and a negative net margin of 10.59%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.47 EPS for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.58, for a total value of $648,127.14. Following the sale, the chief executive officer now owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.58, for a total value of $648,127.14. Following the sale, the chief executive officer now owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the sale, the chief operating officer now directly owns 61,259 shares in the company, valued at approximately $4,028,391.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,157 shares of company stock valued at $2,120,423. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of PEG. Bromfield Sneider Wealth Advisors acquired a new position in Public Service Enterprise Group in the 1st quarter valued at $27,000. Tcwp LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at $28,000. Covestor Ltd acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $32,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $30,000. Finally, Capital Analysts LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 70.82% of the company’s stock.

Public Service Enterprise Group Company Profile

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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 PSEG Power. The PSE&G segment transmits electricity; 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.

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