JPMorgan Increases Price Target on PSEG (PEG)

Public Service Enterprise Group Inc. (NYSE:PEG) is one of the 10 best regulated electric stocks to buy according to hedge funds.

As of the March 13 closing, consensus sentiment for Public Service Enterprise Group Inc. (NYSE:PEG) remained moderately bullish. The stock received coverage from 14 analysts, 7 of whom assigned Buy ratings and 7 gave Hold calls. With no Sell rating, it has a projected median 1-year price target of $91.12. This results in an upside potential of almost 9% at prevailing level.

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On March 12, J.P. Morgan increased its target price for Public Service Enterprise Group Inc. (NYSE:PEG) from $85 to $90. The firm reiterated a Neutral rating on the stock, based on adjustments to its models across the North American utilities segment.

On February 27, Scotiabank raised the firm’s price target on Public Service Enterprise Group Inc. (NYSE:PEG) to $92 from $91. The firm maintained its Sector Perform rating on the stock. While the firm acknowledges the company’s consistent track record of outperforming its earnings guidance, it anticipates that near-term investor sentiment will remain heavily influenced by rising affordability concerns.

Public Service Enterprise Group Inc. (NYSE:PEG) operates across the electric and gas utility and nuclear generation segments. The company is involved in the transmission and distribution of electricity and natural gas for commercial, industrial, and residential usage. It also operates solar power projects and energy efficiency programs.

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