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PEG

PSEG

$60.45

0.39 (0.65%)

04:52
09/03/19
09/03
04:52
09/03/19
04:52

PSEG price target raised to $62 from $60 at Mizuho

Mizuho analyst Paul Fremont expects a further delay until early 2021 in PSE&G's energy efficiency rate filing. He believes the New Jersey Commission will finalize its proposed quantitative performance indicators late next year since they must be vetted under the New Jersey's Administrative Procedure Act. The possible delay results in a decrease in the analyst's forecast utility spending through 2021 and lower utility earnings. Nonetheless, the analyst raised his price target for PSEG shares to $62 from $60 and affirms a Buy rating on the name. He increased his PSEG Power estimates.

  • 05

    Sep

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  • 10

    Nov

PEG PSEG
$60.45

0.39 (0.65%)

07/19/19
BOFA
07/19/19
DOWNGRADE
Target $65
BOFA
Neutral
BofA downgrades PSEG to Neutral, sees more trouble in PJM power market
As previously reported, BofA Merrill Lynch analyst Julien DuMoulin-Smith downgraded PSEG to Neutral from Buy following industry conversations that reaffirmed his caution around oversupply on the PJM power market. He still has concerns about downward pressure on PJM capacity prices next month and has less confidence in a sustained recovery in PJM prices, the analyst said. He maintains his $65 price target on PSEG shares.
07/25/19
KEYB
07/25/19
NO CHANGE
KEYB
FERC ruling ends near-term anxiety about PJM auction, KeyBanc says
After the Federal Energy Regulatory Commission directed PJM Interconnection not to run the Base Residual Auction in August, KeyBanc analyst Sophie Karp said the ruling ends near-term anxiety around the potential outcome of the auction. The analyst, who does not think the path forward will be "speedy or efficient," thinks PJM companies may be incentivised to seek compensation for their capacity via alternative mechanisms. She noted that PSEG (PEG) has previously indicated it might lean on the New Jersey BGS auction more heavily and Illinois state lawmakers debated the creation of a separate capacity market in the state.
07/29/19
SBSH
07/29/19
DOWNGRADE
Target $61
SBSH
Neutral
PSEG downgraded to Neutral from Buy at Citi
Citi analyst Praful Mehta downgraded PSEG to Neutral from Buy with an unchanged price target of $61. The analyst reduced his Power valuation to reflect the lower PJM forward curves. The drop in forward curves is driven by fundamental demand/supply dynamics and gas prices, Mehta tells investors in a research note. The analyst says he waits to hear how PSEG "looks to tackle weaker market dynamics."
08/13/19
LEHM
08/13/19
INITIATION
Target $63
LEHM
Overweight
PSEG initiated with an Overweight at Barclays
Barclays analyst Eric Beaumont started PSEG with an Overweight rating and $63 price target. PSEG is a premium utility with above-average rate base growth and a high level of "contemporaneous" return on capital investments, Beaumont tells investors in a research note. The analyst estimates more than $56 of share value in just PSE&G, its largest subsidiary. PSEG is "simply undervalued," says Beaumont.

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CHSP

Chesapeake Lodging

$27.20

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$DJT

DJ Transportation Average

$0.00

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$87.48

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$104.08

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$DJU

DJ Utility Average

$0.00

(0.00%)

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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IYT

iShares Transportation Average

$190.85

-2.3 (-1.19%)

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XLK

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$81.29

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XLE

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$61.94

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