In a report released today, Paul Fremont from Mizuho Securities reiterated a Hold rating on Public Service Enterprise (NYSE: PEG), with a price target of $53. The company’s shares closed yesterday at $52.01.
According to TipRanks.com, Fremont is a 4-star analyst with an average return of 5.2% and a 66.9% success rate. Fremont covers the Utilities sector, focusing on stocks such as El Paso Electric Company, American Electric Power, and Nextera Energy Partners.
Currently, the analyst consensus on Public Service Enterprise is a Moderate Buy with an average price target of $56.67.
Based on Public Service Enterprise’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.08 billion and net profit of $269 million. In comparison, last year the company earned revenue of $2.24 billion and had a net profit of $395 million.
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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.