Public Service Enterprise (PEG) Gets a Buy from Evercore ISI

In a report released yesterday, Durgesh Chopra from Evercore ISI maintained a Buy rating on Public Service Enterprise (PEG – Research Report), with a price target of $92.00. The company’s shares closed yesterday at $78.66.

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Chopra covers the Utilities sector, focusing on stocks such as CMS Energy, Exelon, and Centerpoint Energy. According to TipRanks, Chopra has an average return of 4.4% and a 56.80% success rate on recommended stocks.

In addition to Evercore ISI, Public Service Enterprise also received a Buy from Guggenheim’s Shahriar Pourreza in a report issued yesterday. However, on April 21, Jefferies 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 $3.22 billion and a net profit of $589 million. In comparison, last year the company earned a revenue of $2.76 billion and had a net profit of $532 million

Based on the recent corporate insider activity of 55 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. Last month, Ralph Larossa, the Chair, President and CEO of PEG sold 1,378.00 shares for a total of $114,208.64.