Public Service Enterprise Group’s (PEG) Hold Rating Reaffirmed at Royal Bank Of Canada

Public Service Enterprise Group Incorporated (NYSE:PEG)‘s stock had its “hold” rating reiterated by stock analysts at Royal Bank Of Canada in a report released on Tuesday. They presently have a $47.00 price target on the utilities provider’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 1.28% from the company’s previous close.

PEG has been the subject of several other reports. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, August 1st. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $49.13.

Shares of Public Service Enterprise Group (PEG) opened at 47.61 on Tuesday. Public Service Enterprise Group has a 12-month low of $39.28 and a 12-month high of $47.71. The company’s 50-day moving average price is $46.50 and its 200 day moving average price is $44.83. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 53.49 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same period in the prior year, the business earned $0.57 EPS. On average, equities research analysts forecast that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Public Service Enterprise Group’s (PEG) Hold Rating Reaffirmed at Royal Bank Of Canada” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/public-service-enterprise-groups-peg-hold-rating-reaffirmed-at-royal-bank-of-canada.html.

In related news, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares in the company, valued at approximately $33,853,479.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,733 shares of company stock worth $2,097,782 in the last quarter. 0.61% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Public Service Enterprise Group by 4,031.7% in the 1st quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after acquiring an additional 47,208,334 shares during the period. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after acquiring an additional 828,458 shares during the period. State Street Corp grew its holdings in shares of Public Service Enterprise Group by 1.2% in the 1st quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after acquiring an additional 319,134 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Public Service Enterprise Group by 179.9% in the 2nd quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,

PEG has been the subject of several other reports. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, August 1st. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $49.13.

Shares of Public Service Enterprise Group (PEG) opened at 47.61 on Tuesday. Public Service Enterprise Group has a 12-month low of $39.28 and a 12-month high of $47.71. The company’s 50-day moving average price is $46.50 and its 200 day moving average price is $44.83. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 53.49 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same period in the prior year, the business earned $0.57 EPS. On average, equities research analysts forecast that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Public Service Enterprise Group’s (PEG) Hold Rating Reaffirmed at Royal Bank Of Canada” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/public-service-enterprise-groups-peg-hold-rating-reaffirmed-at-royal-bank-of-canada.html.

In related news, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares in the company, valued at approximately $33,853,479.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,733 shares of company stock worth $2,097,782 in the last quarter. 0.61% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Public Service Enterprise Group by 4,031.7% in the 1st quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after acquiring an additional 47,208,334 shares during the period. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after acquiring an additional 828,458 shares during the period. State Street Corp grew its holdings in shares of Public Service Enterprise Group by 1.2% in the 1st quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after acquiring an additional 319,134 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Public Service Enterprise Group by 179.9% in the 2nd quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after acquiring an additional 4,314,015 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Public Service Enterprise Group by 3.4% in the 1st quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock worth $241,006,000 after acquiring an additional 178,078 shares during the period. Institutional investors and hedge funds own 65.88% of the company’s stock.

Public Service Enterprise Group Company Profile

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)

Receive News & Ratings for Public Service Enterprise Group Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply