Public Service Enterprise Group (NYSE:PEG) had its price objective cut by stock analysts at Morgan Stanley from $54.00 to $52.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.20% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Argus raised their target price on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Guggenheim reissued a “buy” rating and set a $58.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Bank of America started coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 target price for the company. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $51.04.

Public Service Enterprise Group (NYSE:PEG) opened at $47.62 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group has a fifty-two week low of $41.67 and a fifty-two week high of $53.28. The stock has a market cap of $23,905.27, a price-to-earnings ratio of 46.23, a P/E/G ratio of 4.46 and a beta of 0.39.

In related news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $51.50, for a total transaction of $112,527.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the sale, the chairman now owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,684 shares of company stock worth $3,344,767. 0.61% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $1,444,000. State of Tennessee Treasury Department grew its position in shares of Public Service Enterprise Group by 646.7% in the fourth quarter. State of Tennessee Treasury Department now owns 1,175,992 shares of the utilities provider’s stock valued at $60,564,000 after purchasing an additional 1,018,491 shares during the period. Timber Hill LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $4,917,000. Norinchukin Bank The grew its position in shares of Public Service Enterprise Group by 7.0% in the fourth quarter. Norinchukin Bank The now owns 42,859 shares of the utilities provider’s stock valued at $2,207,000 after purchasing an additional 2,806 shares during the period. Finally, American International Group Inc. grew its position in shares of Public Service Enterprise Group by 14.9% in the fourth quarter. American International Group Inc. now owns 173,268 shares of the utilities provider’s stock valued at $8,923,000 after purchasing an additional 22,440 shares during the period. Institutional investors and hedge funds own 66.40% of the company’s stock.

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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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