Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating in a research note issued on Friday, The Fly reports.

Several other equities analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup Inc. reaffirmed a “neutral” rating and issued a $49.00 target price (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Wolfe Research raised Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.75.

Public Service Enterprise Group (NYSE:PEG) opened at 45.61 on Friday. The firm’s 50-day moving average is $43.86 and its 200 day moving average is $44.16. The company has a market capitalization of $23.07 billion, a PE ratio of 51.25 and a beta of 0.38. Public Service Enterprise Group has a one year low of $39.28 and a one year high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The company 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 previous year, the company posted $0.57 EPS. On average, equities analysts expect that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

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In other news, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the transaction, the chairman now directly owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Ralph A. Larossa sold 24,021 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,421 shares of company stock valued at $3,389,397. Corporate insiders own 0.61% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after buying an additional 47,208,334 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after buying an additional 4,314,015 shares during the period. BT Investment Management Ltd acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $84,819,000. BNP Paribas Arbitrage SA increased its position in shares of Public Service Enterprise Group by 179.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock worth $92,943,000 after buying an additional 1,387,377 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after buying an additional 1,144,077 shares during the period. 65.76% of the stock is owned by institutional investors and hedge funds.

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.

The Fly

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

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