Public Service Enterprise Group Incorporated (PEG) : Analyst Rating Update

Public Service Enterprise Group Incorporated (PEG) : 8 analysts are covering Public Service Enterprise Group Incorporated (PEG) and their average rating on the stock is 3.04, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Public Service Enterprise Group Incorporated (PEG) : 7 Wall Street analysts covering Public Service Enterprise Group Incorporated (PEG) believe that the average level the stock could reach for the short term is $44.5. The maximum price target given is $49 and the minimum target for short term is around $40, hence the standard deviation is calculated at $3.43.

Public Service Enterprise Group Incorporated (NYSE:PEG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.58 and $46.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.75, notching a gain of 0.15% for the day. The total traded volume was 2,737,773 . The stock had closed at $46.68 on the previous day.

Also, Brokerage firm Bank of America downgrades its rating on Public Service Enterprise Group Incorporated (NYSE:PEG). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 7, 2016. The company shares have rallied 12.81% from its 1 Year high price. On Apr 1, 2016, the shares registered one year high at $47.41 and the one year low was seen on Dec 14, 2015. The 50-Day Moving Average price is $44.76 and the 200 Day Moving Average price is recorded at $43.68.

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned subsidiaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G). The Companys other direct wholly owned subsidiaries are PSEG Energy Holdings L.L.C., which owns and manages a portfolio of lease investments; PSEG Long Island LLC, which operates the Long Island Power Authoritys (LIPA) transmission and distribution system under a contractual agreement, and PSEG Services Corporation, which provides certain management, administrative and general services to PSEG and its subsidiaries.

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