In a report issued on December 12, Andrew Weisel from Scotiabank reiterated a Hold rating on Public Service Enterprise (PEG), with a price target of $56. The company’s shares closed yesterday at $55.80, close to its 52-week high of $56.68.
According to TipRanks.com, Weisel is a 2-star analyst with an average return of -0.2% and a 50.0% success rate. Weisel covers the Utilities sector, focusing on stocks such as Dominion Resources, NextEra Energy Inc, and Black Hills Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Public Service Enterprise with a $57.64 average 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 $2.24 billion and had a net profit of $395 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.
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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.
