Public Service Enterprise Group (PEG) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on Public Service Enterprise Group. Public Service Enterprise Group was Downgraded by BofA/Merrill to ” Underperform” on Jun 7, 2016.
On the company’s financial health, Public Service Enterprise Group reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.88.Analysts expectations of $ 2692.87.During the same quarter in the previous year, the company posted $1.04 EPS.
Public Service Enterprise Group closed down -0.19 points or -0.41% at $45.95 with 21,30,519 shares getting traded on Monday. Post opening the session at $45.94, the shares hit an intraday low of $45.41 and an intraday high of $45.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 6, 2016, Ralph Izzo (Chairman, President and CEO) sold 43,313 shares at $46.40 per share price. According to the SEC, on Jun 16, 2016, Ralph A Larossa (President & COO – PSE&G) sold 35,824 shares at $44.36 per share price. On Jun 7, 2016, William Levis (Pres & COO, PSEG Power LLC) sold 70,000 shares at $43.11 per share price, according to the Form-4 filing with the securities and exchange commission.
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 Authority’s (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.