Wells Fargo Remains a Buy on Public Service Enterprise (PEG)

In a report released yesterday, Neil Kalton from Wells Fargo maintained a Buy rating on Public Service Enterprise (PEG). The company’s shares closed last Wednesday at $56.91.

According to TipRanks.com, Kalton is a 4-star analyst with an average return of 6.6% and a 62.5% success rate. Kalton covers the Utilities sector, focusing on stocks such as American Electric Power, Edison International, and Centerpoint Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Public Service Enterprise with a $64.86 average price target.

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The company has a one-year high of $62.15 and a one-year low of $34.75. Currently, Public Service Enterprise has an average volume of 2.26M.

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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.

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