BMO Capital Initiates a Hold Rating on Public Service Enterprise (PEG)

BMO Capital analyst James Thalacker initiated coverage with a Hold rating on Public Service Enterprise (PEG) today and set a price target of $63.00. The company’s shares closed last Monday at $58.95.

Currently, the analyst consensus on Public Service Enterprise is a Moderate Buy with an average price target of $64.25.

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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 $2.38 billion and net profit of $403 million. In comparison, last year the company earned revenue of $2.5 billion and had a net profit of $199 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 following two segments: Public Service Electric & Gas Co. (PSE&G) and Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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