Morgan Stanley analyst Stephen Byrd maintained a Buy rating on Public Service Enterprise (PEG) today and set a price target of $74.00. The company’s shares closed last Tuesday at $59.66, close to its 52-week high of $63.68.
According to TipRanks.com, Byrd is a 4-star analyst with an average return of 4.8% and a 56.5% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, American Electric Power, and South Jersey Industries.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Public Service Enterprise with a $63.38 average price target, which is a 6.0% upside from current levels. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $66.00 price target.
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Public Service Enterprise’s market cap is currently $30.09B and has a P/E ratio of 17.40. The company has a Price to Book ratio of 1.97.
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Public Service Enterprise Group, Inc. is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co. (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas. The PSEG Power segment wholesales energy, fuel supply, and energy transacting functions. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The company was founded in 1903 and is headquartered in Newark, NJ.
