BMO Capital Markets Trims Public Service Enterprise Group (NYSE:PEG) Target Price to $60.00

Public Service Enterprise Group (NYSE:PEG – Get Rating) had its price target cut by BMO Capital Markets from $64.00 to $60.00 in a report released on Monday, The Fly reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 2.53% from the company’s previous close.

Several other research firms have also recently issued reports on PEG. Guggenheim cut their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Wolfe Research cut Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. Mizuho cut their target price on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. Finally, TheStreet upgraded Public Service Enterprise Group from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.20.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $58.52 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20. The business has a 50-day simple moving average of $60.93 and a two-hundred day simple moving average of $60.25. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 6.97 and a beta of 0.55. Public Service Enterprise Group has a 52 week low of $52.51 and a 52 week high of $75.61.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group will post 3.43 EPS for the current year.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors have recently modified their holdings of the stock. United Capital Financial Advisers LLC lifted its stake in shares of Public Service Enterprise Group by 1.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 12,911 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 166 shares during the last quarter. Kentucky Retirement Systems lifted its stake in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 39,221 shares of the utilities provider’s stock valued at $2,403,000 after purchasing an additional 171 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 1.0% in the 3rd quarter. Schechter Investment Advisors LLC now owns 18,359 shares of the utilities provider’s stock valued at $1,032,000 after purchasing an additional 188 shares during the last quarter. Vantage Consulting Group Inc lifted its stake in shares of Public Service Enterprise Group by 5.1% in the 2nd quarter. Vantage Consulting Group Inc now owns 3,901 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 191 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,653 shares of the utilities provider’s stock valued at $374,000 after purchasing an additional 193 shares during the last quarter. 70.67% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

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Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.