In a report released today, Shahriar Pourreza from Guggenheim reiterated a Buy rating on Public Service Enterprise (PEG), with a price target of $62. The company’s shares opened today at $58.56, close to its 52-week high of $58.93.
According to TipRanks.com, Pourreza is a 5-star analyst with an average return of 13.9% and a 81.4% success rate. Pourreza covers the Utilities sector, focusing on stocks such as Newjersey Resources Corp, American Electric Power, and Clearway Energy Inc.
Currently, the analyst consensus on Public Service Enterprise is a Moderate Buy with an average price target of $58.67, representing a 0.2% upside. In a report issued on February 12, Morgan Stanley also maintained a Buy rating on the stock with a $64 price target.
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Based on Public Service Enterprise’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.52 billion and net profit of $412 million. In comparison, last year the company earned revenue of $2.1 billion and had a net profit of $956 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Ralph Izzo, the COB, Pres & CEO of PEG sold 52,407 shares for a total of $2,845,990.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Public Service Enterprise Group, Inc. is a holding company, which engages in the provision of electric and gas services. It operates through the Public Service Electric & Gas Co. (PSE&G) and Power segments. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.
