In a report released yesterday, Shelby Tucker from RBC Capital maintained a Buy rating on Public Service Enterprise (PEG), with a price target of $63.00. The company’s shares closed last Monday at $59.50, close to its 52-week high of $63.68.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.2% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as American Electric Power, Nextera Energy Partners, and Pinnacle West Capital.
Public Service Enterprise has an analyst consensus of Moderate Buy, with a price target consensus of $62.63, representing a 5.2% upside. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $66.00 price target.
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Based on Public Service Enterprise’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.05 billion and net profit of $451 million. In comparison, last year the company earned revenue of $2.32 billion and had a net profit of $153 million.
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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.
