Public Service Enterprise Group (NYSE:PEG) Given New $72.00 Price Target at Evercore ISI

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective increased by stock analysts at Evercore ISI from $67.00 to $72.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the utilities provider's stock. Evercore ISI's price target would indicate a potential upside of 8.91% from the stock's current price.

Several other equities research analysts also recently issued reports on PEG. Bank of America upped their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. TheStreet upgraded Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research note on Wednesday, March 6th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, March 19th. Guggenheim downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price objective for the company. in a research note on Monday, January 22nd. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.33.

Public Service Enterprise Group Trading Down 0.8 %

Shares of Public Service Enterprise Group stock traded down $0.53 during midday trading on Thursday, reaching $66.11. The company had a trading volume of 2,445,349 shares, compared to its average volume of 2,946,848. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $67.51. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a fifty day moving average price of $62.01 and a 200 day moving average price of $61.36. The firm has a market cap of $32.96 billion, a PE ratio of 12.89, a P/E/G ratio of 2.90 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Public Service Enterprise Group's revenue was down 17.0% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company's stock, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $510,300 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors have recently made changes to their positions in PEG. Operose Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock worth $30,000 after buying an additional 435 shares during the last quarter. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $31,000. ICA Group Wealth Management LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $31,000. Clear Street Markets LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $31,000. Finally, CNB Bank bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $34,000. Institutional investors own 73.34% of the company's stock.

About Public Service Enterprise Group

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.