Public Service Enterprise (PEG) Gets a Hold from J.P. Morgan
In a report released yesterday, Jeremy Tonet from J.P. Morgan maintained a Hold rating on Public Service Enterprise, with a price target of $85.00. The company’s shares closed yesterday at $76.84.
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Tonet covers the Energy sector, focusing on stocks such as Pembina Pipeline, Oneok, and Kinetik. According to TipRanks, Tonet has an average return of 9.3% and a 60.64% success rate on recommended stocks.
In addition to J.P. Morgan, Public Service Enterprise also received a Hold from Truist Financial’s Richard Sunderland in a report issued yesterday. However, on May 15, Wells Fargo maintained a Buy rating on Public Service Enterprise (NYSE: PEG).
Based on Public Service Enterprise’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.85 billion and a net profit of $741 million. In comparison, last year the company earned a revenue of $3.22 billion and had a net profit of $589 million
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PEG in relation to earlier this year. Earlier this month, Ralph Larossa, the Chair, President and CEO of PEG sold 2,083.00 shares for a total of $169,139.60.
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