Goldman Sachs Remains a Hold on Public Service Enterprise (PEG)

Goldman Sachs analyst Carly Davenport maintained a Hold rating on Public Service Enterprise yesterday and set a price target of $86.00. The company’s shares closed yesterday at $78.06.

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According to TipRanks, Davenport is a 3-star analyst with an average return of 2.9% and a 60.00% success rate. Davenport covers the Utilities sector, focusing on stocks such as Duke Energy, Ameren, and Eversource Energy.

In addition to Goldman Sachs, Public Service Enterprise also received a Hold from J.P. Morgan’s Jeremy Tonet in a report issued on May 18. 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.