KeyCorp Begins Coverage on Public Service Enterprise Group (NYSE:PEG)

Stock analysts at KeyCorp began coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a note issued to investors on Tuesday, June 4th, Marketbeat Ratings reports. The brokerage set a “sector weight” rating and a $59.40 price target on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 0.99% from the company’s previous close. KeyCorp also issued estimates for Public Service Enterprise Group’s FY2019 earnings at $3.25 EPS, FY2020 earnings at $3.43 EPS and FY2021 earnings at $3.59 EPS.

Several other research firms have also issued reports on PEG. Mizuho raised their price target on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Wells Fargo & Co raised their price target on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Deutsche Bank lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target for the company. in a report on Thursday, February 28th. Finally, JPMorgan Chase & Co. lowered shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus target price of $60.75.

Shares of PEG stock traded up $0.03 on Tuesday, reaching $58.82. The company had a trading volume of 5,083,000 shares, compared to its average volume of 2,759,894. The firm has a market capitalization of $29.67 billion, a PE ratio of 18.85, a PEG ratio of 3.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. Public Service Enterprise Group has a one year low of $49.22 and a one year high of $61.63. The firm has a 50-day simple moving average of $60.11.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. During the same quarter last year, the business earned $0.97 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group will post 3.28 earnings per share for the current year.

In other Public Service Enterprise Group news, VP Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $60.92, for a total transaction of $38,075.00. Following the transaction, the vice president now directly owns 60,833 shares of the company’s stock, valued at approximately $3,705,946.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.80, for a total transaction of $97,020.00. Following the transaction, the chief operating officer now directly owns 85,068 shares in the company, valued at $5,001,998.40. The disclosure for this sale can be found here. Insiders have sold a total of 176,955 shares of company stock worth $10,423,001 over the last ninety days. Insiders own 0.51% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new stake in Public Service Enterprise Group in the 1st quarter valued at about $25,000. Athena Capital Advisors LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $33,000. JNBA Financial Advisors bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $45,000. Thor Advisors LLC bought a new stake in Public Service Enterprise Group in the 1st quarter valued at about $45,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Public Service Enterprise Group by 76.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 890 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 385 shares during the period. Institutional investors own 68.80% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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