Public Service Enterprise Group (NYSE:PEG) PT Lowered to $60.00

Public Service Enterprise Group (NYSE:PEG – Get Rating) had its price target dropped by equities researchers at Mizuho from $66.00 to $60.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the utilities provider’s stock. Mizuho’s target price would suggest a potential upside of 2.53% from the company’s current price.

A number of other analysts have also weighed in on PEG. Guggenheim reduced their price target on shares of Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Wolfe Research lowered shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 22nd. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. Finally, BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $65.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, February 22nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.20.

Public Service Enterprise Group Price Performance

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

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a net margin of 10.52% and a return on equity of 12.88%. The firm 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 firm earned $0.69 EPS. Public Service Enterprise Group’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group will post 3.43 EPS for the current year.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the company. PFS Investments Inc. lifted its position in shares of Public Service Enterprise Group by 10.4% in the 3rd quarter. PFS Investments Inc. now owns 24,870 shares of the utilities provider’s stock valued at $1,398,000 after acquiring an additional 2,350 shares in the last quarter. Fiduciary Trust Co. increased its stake in Public Service Enterprise Group by 9.0% in the 3rd quarter. Fiduciary Trust Co. now owns 7,794 shares of the utilities provider’s stock valued at $438,000 after buying an additional 646 shares during the period. SVB Wealth LLC increased its stake in Public Service Enterprise Group by 36.3% in the 3rd quarter. SVB Wealth LLC now owns 12,101 shares of the utilities provider’s stock valued at $681,000 after buying an additional 3,224 shares during the period. Envestnet Asset Management Inc. increased its stake in Public Service Enterprise Group by 11.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 495,858 shares of the utilities provider’s stock valued at $27,882,000 after buying an additional 51,291 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Public Service Enterprise Group by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 628,774 shares of the utilities provider’s stock valued at $39,788,000 after buying an additional 3,483 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

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.