Public Service Enterprise Group Incorporated (NYSE:PEG) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also weighed in on PEG. Citigroup Inc. restated a “neutral” rating and issued a $49.00 target price (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $48.50.

Shares of Public Service Enterprise Group (PEG) opened at 45.23 on Thursday. The firm has a market cap of $22.88 billion, a P/E ratio of 50.82 and a beta of 0.39. The company has a 50 day moving average price of $46.22 and a 200-day moving average price of $44.64. Public Service Enterprise Group has a 52-week low of $39.28 and a 52-week high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $0.57 EPS. On average, analysts expect that Public Service Enterprise Group will post $2.92 earnings per share for the current fiscal year.

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In related news, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value 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 approximately $32,042,022.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’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 transaction of $70,665.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. boosted its holdings in Public Service Enterprise Group by 9.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,975,717 shares of the utilities provider’s stock valued at $87,623,000 after purchasing an additional 163,629 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in Public Service Enterprise Group by 3.0% in the 1st quarter. Virginia Retirement Systems ET AL now owns 652,100 shares of the utilities provider’s stock valued at $28,921,000 after purchasing an additional 19,300 shares during the period. Schnieders Capital Management LLC boosted its holdings in Public Service Enterprise Group by 6.3% in the 1st quarter. Schnieders Capital Management LLC now owns 5,060 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 300 shares during the period. State of Tennessee Treasury Department boosted its holdings in Public Service Enterprise Group by 12.8% in the 1st quarter. State of Tennessee Treasury Department now owns 178,284 shares of the utilities provider’s stock valued at $7,907,000 after purchasing an additional 20,213 shares during the period. Finally, CIBC World Markets Inc. boosted its holdings in Public Service Enterprise Group by 1,928.2% in the 1st quarter. CIBC World Markets Inc. now owns 650,051 shares of the utilities provider’s stock valued at $28,830,000 after purchasing an additional 618,001 shares during the period. 65.88% of the stock is owned by institutional investors.

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.

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

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