Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $95.00 at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by Wells Fargo & Company from $100.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 17.63% from the stock’s current price.

PEG has been the topic of several other reports. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Public Service Enterprise Group Trading Down 2.6 %

Public Service Enterprise Group stock opened at $80.76 on Wednesday. The company’s fifty day simple moving average is $84.86 and its 200-day simple moving average is $85.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a 12 month low of $61.36 and a 12 month high of $95.22. The stock has a market cap of $40.24 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company posted $0.54 EPS. Public Service Enterprise Group’s revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. REAP Financial Group LLC raised its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $35,000. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.