Public Service Enterprise (PEG) Gets a Hold Rating from RBC Capital

By Ryan Adsit

In a report issued on January 15, Shelby Tucker from RBC Capital maintained a Hold rating on Public Service Enterprise (PEGResearch Report), with a price target of $65.00. The company’s shares closed last Monday at $59.16.

According to TipRanks.com, Tucker is a 5-star analyst with an average return of 9.2% and a 74.0% success rate. Tucker covers the Utilities sector, focusing on stocks such as American Electric Power, Nextera Energy Partners, and Pinnacle West Capital.

Currently, the analyst consensus on Public Service Enterprise is a Hold with an average price target of $64.50.

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Based on Public Service Enterprise’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.38 billion and net profit of $403 million. In comparison, last year the company earned revenue of $2.5 billion and had a net profit of $199 million.

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Public Service Enterprise Group, Inc. is a holding company, which engages in the provision of electric and gas services. It operates through the following two segments: Public Service Electric & Gas Co. (PSE&G) and Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.