Public Service Enterprise (PEG) Receives a Buy from Morgan Stanley
Morgan Stanley analyst David Arcaro maintained a Buy rating on Public Service Enterprise today and set a price target of $93.00.
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According to TipRanks, Arcaro is a 5-star analyst with an average return of 13.6% and a 62.18% success rate. Arcaro covers the Utilities sector, focusing on stocks such as Vistra Corp, Sempra Energy, and Spire.
In addition to Morgan Stanley, Public Service Enterprise also received a Buy from Wells Fargo’s Shahriar Pourreza in a report issued today. However, on the same day, BMO Capital maintained a Hold 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 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.
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