Truist Financial Keeps Their Hold Rating on Public Service Enterprise (PEG)

In a report released on July 17, Richard Sunderland from Truist Financial maintained a Hold rating on Public Service Enterprise, with a price target of $90.00. The company’s shares closed last Friday at $78.64.

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According to TipRanks, Sunderland is a 3-star analyst with an average return of 3.6% and a 56.83% success rate. Sunderland covers the Utilities sector, focusing on stocks such as Dominion Energy, Entergy, and Xcel Energy.

Currently, the analyst consensus on Public Service Enterprise is a Moderate Buy with an average price target of $89.00, which is a 13.17% upside from current levels. In a report released on July 17, RBC Capital also maintained a Hold rating on the stock with a $81.00 price target.

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 58 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 $167,702.33.