Credit Suisse slashes price target on Public Service Enterprise Group Incorporated [PEG] – find out why.

Public Service Enterprise Group Incorporated [NYSE: PEG] traded at a high on 11/02/22, posting a 0.50 gain after which it closed the day’ session at $56.61. The company report on November 2, 2022 that Plainfield Gas Team Recognized for Responding to Severe Gas Leak.

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One morning last month, Plainfield Service Specialist Philip Pachiolo was completing paperwork from his first job of the day when a call came in reporting a gas leak emergency at a home in Warren.

It only took him five minutes to get there, and when he arrived, he saw the fire department and police were onsite. Pachiolo went to investigate and then moved quickly to evacuate the two homeowners and three outside contractors who were doing an HVAC installation.

The results of the trading session contributed to over 3686846 shares changing hands. Over the past one week, the price volatility of Public Service Enterprise Group Incorporated stands at 3.06% while the volatility over the past one month is 2.73%.

The market cap for PEG stock reached $27.29 billion, with 498.86 million shares outstanding and 497.93 million shares in the current float. Compared to the average trading volume of 2.77M shares, PEG reached a trading volume of 3686846 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Public Service Enterprise Group Incorporated [PEG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PEG shares is $68.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PEG stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Public Service Enterprise Group Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on March 22, 2022, representing the official price target for Public Service Enterprise Group Incorporated stock. Previously, the target price had yet another raise to $71, while Evercore ISI analysts kept a Outperform rating on PEG stock.

The Average True Range (ATR) for Public Service Enterprise Group Incorporated is set at 1.70, with the Price to Sales ratio for PEG stock in the period of the last 12 months amounting to 2.92. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 4.58.

How has PEG stock performed recently?

Public Service Enterprise Group Incorporated [PEG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.87. With this latest performance, PEG shares dropped by -5.35% in over the last four-week period, additionally sinking by -18.28% over the last 6 months – not to mention a drop of -11.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PEG stock in for the last two-week period is set at 47.63, with the RSI for the last a single of trading hit 52.60, and the three-weeks RSI is set at 45.16 for Public Service Enterprise Group Incorporated [PEG]. The present Moving Average for the last 50 days of trading for this stock 60.59, while it was recorded at 56.39 for the last single week of trading, and 64.99 for the last 200 days.

Public Service Enterprise Group Incorporated [PEG]: Deeper insight into the fundamentals

Public Service Enterprise Group Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

Earnings analysis for Public Service Enterprise Group Incorporated [PEG]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PEG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Public Service Enterprise Group Incorporated go to 3.80%.

Insider trade positions for Public Service Enterprise Group Incorporated [PEG]

There are presently around $20,072 million, or 73.10% of PEG stock, in the hands of institutional investors. The top three institutional holders of PEG stocks are: BLACKROCK INC. with ownership of 51,850,476, which is approximately 9.738% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 43,798,489 shares of the stock with an approximate value of $2.48 billion in PEG stocks shares; and STATE STREET CORP, currently with $1.77 billion in PEG stock with ownership of nearly 1.9% of the company’s market capitalization.

Positions in Public Service Enterprise Group Incorporated stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 422 institutional holders increased their position in Public Service Enterprise Group Incorporated [NYSE:PEG] by around 32,988,225 shares. Additionally, 423 investors decreased positions by around 27,155,046 shares, while 188 investors held positions by with 294,415,145 shares. The mentioned changes placed institutional holdings at 354,558,416 shares, according to the latest SEC report filing. PEG stock had 73 new institutional investments in for a total of 2,008,852 shares, while 103 institutional investors sold positions of 2,502,560 shares during the same period.


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