Public Service Enterprise Group Incorporated (PEG) Given “Buy” Rating at Goldman Sachs Group, Inc. (The)

Public Service Enterprise Group Incorporated (NYSE:PEG)‘s stock had its “buy” rating reaffirmed by stock analysts at Goldman Sachs Group, Inc. (The) in a report released on Tuesday, June 27th.

A number of other equities analysts also recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Deutsche Bank AG lowered their target price on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, April 11th. Barclays PLC lowered their target price on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 4th. Wells Fargo & Company downgraded shares of Public Service Enterprise Group from an “outperform” rating to a “market perform” rating in a research note on Monday, February 27th. Finally, BidaskClub downgraded shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.10.

Shares of Public Service Enterprise Group (NYSE:PEG) opened at 43.23 on Tuesday. The stock’s 50 day moving average price is $44.08 and its 200 day moving average price is $44.12. Public Service Enterprise Group has a 1-year low of $39.28 and a 1-year high of $46.67. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 41.57 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm earned $0.91 earnings per share. Analysts expect that Public Service Enterprise Group will post $2.90 EPS for the current year.

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In related news, COO Ralph A. Larossa sold 24,021 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $43.82, for a total transaction of $1,314,600.00. Following the transaction, the chairman now owns 748,691 shares in the company, valued at $32,807,639.62. The disclosure for this sale can be found here. Insiders have sold 86,021 shares of company stock valued at $3,733,335 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its stake in 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 buying an additional 381 shares during the period. Parallel Advisors LLC raised its stake in 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 buying an additional 20 shares during the period. Kistler Tiffany Companies LLC raised its stake in 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 buying an additional 99 shares during the period. YorkBridge Wealth Partners LLC raised its stake in Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock valued at $134,000 after buying an additional 543 shares during the period. Finally, CENTRAL TRUST Co raised its stake in Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock valued at $147,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 66.42% 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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