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Public Service Enterprise Group Inc. (PEG) gets rating Downgrade from Guggenheim

Public Service Enterprise Group Inc.’s recent filing unveils that its Vice President and Controller Chernick Rose M unloaded Company’s shares for reported $13156.0 on Apr 22 ’24. In the deal valued at $65.78 per share,200 shares were sold. As a result of this transaction, Chernick Rose M now holds 34,516 shares worth roughly $2.37 million.

Then, LaRossa Ralph A sold 1,374 shares, generating $91,192 in total proceeds. Upon selling the shares at $66.37, the Chair, President and CEO now owns 152,347 shares.

Before that, Chernick Rose M sold 200 shares. Public Service Enterprise Group Inc. shares valued at $12,840 were divested by the Vice President and Controller at a price of $64.20 per share. As a result of the transaction, Chernick Rose M now holds 34,716 shares, worth roughly $2.38 million.

Guggenheim downgraded its Public Service Enterprise Group Inc. [PEG] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in late August with a ‘”an Overweight”‘ rating. UBS also remained covering PEG and has decreased its forecast on August 14, 2023 with a “Neutral” recommendation from previously “Buy” rating. Seaport Research Partners revised its rating on June 20, 2023. It rated PEG as “a Neutral” which previously was an “a Buy”.

Price Performance Review of PEG

On Monday, Public Service Enterprise Group Inc. [NYSE:PEG] saw its stock jump 1.21% to $68.64. Over the last five days, the stock has gained 2.89%. Public Service Enterprise Group Inc. shares have risen nearly 12.25% since the year began. Nevertheless, the stocks have risen 8.18% over the past one year. While a 52-week high of $68.39 was reached on 04/29/24, a 52-week low of $53.71 was recorded on 01/24/24. SMA at 50 days reached $64.68, while 200 days put it at $61.84. A total of 2.93 million shares were traded, compared to the trading of 2.97 million shares in the previous session.

Levels Of Support And Resistance For PEG Stock

The 24-hour chart illustrates a support level at 68.18, which if violated will result in even more drops to 67.73. On the upside, there is a resistance level at 68.98. A further resistance level may holdings at 69.33. The Relative Strength Index (RSI) on the 14-day chart is 68.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.81, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.75%. Stochastics %K at 92.38% indicates the stock is a selling.

The most recent change occurred on June 08, 2023 when Goldman began covering the stock and recommended ‘”a Neutral”‘ rating along with a $64 price target.

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