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PEG

PSEG

$49.39

-1.35 (-2.66%)

11:53
01/04/18
01/04
11:53
01/04/18
11:53

PSEG slides after nuclear subsidy bill vote scuttled

Shares of electric utility Public Service Enterprise Group (PEG) are sliding after a bill that would have asked ratepayers for additional funds to support the company's nuclear units, which was expected to be voted on today in New Jersey's Senate, faltered in the lower house. WHAT'S NEW: The bill, S-3560, was pushed by PSEG for more than a year and would have asked ratepayers for $300M annually to "prop up" the company's three nuclear units in South Jersey, according to a report from NJ Spotlight. However, Assembly Speaker Vincent Prieto balked at posting it, the report noted, adding that the bill is "almost certain to emerge in a much different form in the next legislative term." PSEG declined to answer questions about the bill when asked about it being pulled, NJ Spotlight added in its report on the bill. PRICE ACTION: In late morning trading, PSEG shares are down $1.32, or 2.6%, to $49.42. Reference Link

PEG PSEG
$49.39

-1.35 (-2.66%)

09/25/17
EVER
09/25/17
UPGRADE
Target $50
EVER
Outperform
PSEG upgraded to Outperform from In Line at Evercore ISI
Evercore ISI analyst Greg Gordon upgraded PSEG to Outperform and increased its price target to $50 from $46.75 citing valuation and catalysts. Gordon expects PSEG to reach the high end of their 7-9% rate base growth outlook and increased his 2019 earnings forecast by 5c. The analyst likes PSEG for its SOTP valuation discount, potential for positive earnings revisions for the merchant power segment.
11/01/17
WELS
11/01/17
UPGRADE
Target $56
WELS
Outperform
PSEG upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Neil Kalton upgraded PSEG to Outperform and raised his price target for the shares to $56 from $49. The analyst sees improving earnings prospects for both the company's regulated utility and merchant power operations. Increasing likelihood of power market reforms and/or nuclear subsidies in New Jersey should drive further share appreciation, Kalton tells investors in a research note.
11/01/17
WELS
11/01/17
UPGRADE
Target $65
WELS
Outperform
PSEG upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Neil Kalton upgraded PSEG to Outperform from Market Perform driven by improving earnings prospects for both the regulated utility and merchant power operations. The analyst thinks there is room for further material outperformance given the increasing likelihood of power market reforms and/or nuclear subsidies in NJ. Kalton also believes the shares do not adequately reflect the high quality of the PSE&G franchise. Kalton also raised his price target on the shares to $65 from $49.
12/14/17
JPMS
12/14/17
NO CHANGE
JPMS
Overweight
Exelon removed from Analyst Focus List at JPMorgan
JPMorgan analyst Christopher Turnure removed Exelon from his firm's Analyst Focus List but keeps an Overweight rating on the shares with a $45 price target. The analyst calls PSEG (PEG) and Westar Energy (WR) his top picks in U.S. Utilities & Power heading into 2018.

TODAY'S FREE FLY STORIES

LRAD

LRAD Corporation

$2.83

0.02 (0.71%)

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LRAD

LRAD Corporation

$2.83

0.02 (0.71%)

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LRAD

LRAD Corporation

$2.83

0.02 (0.71%)

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Earnings
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CDNA

CareDx

$16.87

-0.13 (-0.76%)

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CareDx CFO Michael Brian Bell sells 12,500 shares of company stock »

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VNDA

Vanda Pharmaceuticals

$21.60

0.15 (0.70%)

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HD

Home Depot

$193.08

-1.03 (-0.53%)

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FANG

Diamondback Energy

$133.75

1.84 (1.39%)

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LOW

Lowe's

$98.41

1.32 (1.36%)

, UTX

United Technologies

$132.40

0.23 (0.17%)

16:42
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LOW

Lowe's

$98.41

1.32 (1.36%)

UTX

United Technologies

$132.40

0.23 (0.17%)

MDLZ

Mondelez

$41.87

-0.03 (-0.07%)

ADP

ADP

$141.17

1.48 (1.06%)

QSR

Restaurant Brands

$62.20

0.355 (0.57%)

CMG

Chipotle

$493.33

8.97 (1.85%)

03/08/13
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DXC

DXC Technology

$86.56

2.02 (2.39%)

16:41
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DXC Technology awarded $400M contract by Wisconsin DHS »

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16:39
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General news
API crude inventories for week of August 10 »

API reports that crude…

CSOD

Cornerstone OnDemand

$52.59

0.48 (0.92%)

16:35
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Recommendations
Cornerstone OnDemand analyst commentary  »

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ATNM

Actinium Pharmaceuticals

$0.62

0.003 (0.49%)

16:34
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Conference/Events
Actinium Pharmaceuticals to hold a conference call »

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PRSP

Perspecta

$21.64

-0.31 (-1.41%)

16:34
08/14/18
08/14
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Earnings
Perspecta sees FY18 pro forma revenue $4.150B-$4.250B, consensus $4.2B »

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FCN

FTI Consulting

$80.32

0.33 (0.41%)

16:33
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Syndicate
Breaking Syndicate news story on FTI Consulting »

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PRSP

Perspecta

$21.64

-0.31 (-1.41%)

16:32
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Perspecta reports Q1 adjusted EPS 54c, consensus 46c »

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SBBP

Strongbridge Biopharma

$6.25

0.3 (5.04%)

16:31
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Syndicate
Strongbridge Biopharma files to sell 9M ordinary shares »

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HWC

Hancock Whitney

$51.40

0.6 (1.18%)

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ATRI

Atrion

$656.00

9 (1.39%)

16:31
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Atrion increases quarterly cash dividend by 13% »

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TIK

Tel-Instrument

$2.60

(0.00%)

16:31
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Hot Stocks
Tel-Instrument receives NYSE non-compliance letter »

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16:30
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Options
Preliminary option volume of 16.1M today »

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DLPN

Dolphin Entertainment

$2.96

(0.00%)

16:29
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Earnings
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  • 15

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BK

BNY Mellon

$50.97

0.825 (1.65%)

, GE

General Electric

$12.35

-0.09 (-0.72%)

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BK

BNY Mellon

$50.97

0.825 (1.65%)

GE

General Electric

$12.35

-0.09 (-0.72%)

MDLZ

Mondelez

$41.87

-0.03 (-0.07%)

WEN

Wendy's

$17.84

0.48 (2.77%)

SYY

Sysco

$74.19

1.47 (2.02%)

PG

Procter & Gamble

$81.31

-0.21 (-0.26%)

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VRAY

ViewRay

$9.89

-0.01 (-0.10%)

16:28
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Syndicate
ViewRay files to sell $125M of common stock »

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LMB

Limbach Holding

$10.70

0.11 (1.04%)

16:26
08/14/18
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Earnings
Limbach Holding raises FY18 revenue view to $530-$550M from $520M-$540M »

Consensus $527.77M. Now…

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MRSN

Mersana Therapeutics

$12.75

0.04 (0.31%)

16:26
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Earnings
Mersana Therapeutics reports Q2 EPS (54c), consensus (58c) »

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