Morgan Stanley Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $100.00

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective decreased by research analysts at Morgan Stanley from $101.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price target points to a potential upside of 22.32% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Evercore ISI dropped their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Guggenheim dropped their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.71 during trading on Wednesday, hitting $81.75. The company had a trading volume of 901,973 shares, compared to its average volume of 2,793,234. Public Service Enterprise Group has a 12 month low of $72.25 and a 12 month high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market capitalization of $40.80 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. The stock has a 50 day simple moving average of $80.34 and a 200 day simple moving average of $82.73.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 EPS. As a group, analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after buying an additional 2,986,646 shares during the period. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Public Service Enterprise Group by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after purchasing an additional 162,261 shares in the last quarter. Invesco Ltd. lifted its position in shares of Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after purchasing an additional 604,978 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after purchasing an additional 335,135 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.

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