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Analysts Are Bullish on These Utilities Stocks: Public Service Enterprise (PEG), Ovintiv (OVV)

There’s a lot to be optimistic about in the Utilities sector as 3 analysts just weighed in on Public Service Enterprise (PEGResearch Report), Ovintiv (OVVResearch Report) and Marathon Petroleum (MPCResearch Report) with bullish sentiments.

Public Service Enterprise (PEG)

Mizuho Securities analyst Paul Fremont maintained a Buy rating on Public Service Enterprise yesterday and set a price target of $68.00. The company’s shares closed last Thursday at $64.73.

According to TipRanks.com, Fremont is a 4-star analyst with an average return of 4.3% and a 64.9% success rate. Fremont covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, Edison International, and Pnm Resources.

Currently, the analyst consensus on Public Service Enterprise is a Strong Buy with an average price target of $75.11, which is a 14.7% upside from current levels. In a report issued on August 2, Evercore ISI also maintained a Buy rating on the stock with a $75.00 price target.

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Ovintiv (OVV)

In a report issued on August 3, Vincent Lovaglio from Mizuho Securities maintained a Buy rating on Ovintiv, with a price target of $69.00. The company’s shares closed last Thursday at $45.63.

According to TipRanks.com, Lovaglio is a top 25 analyst with an average return of 39.2% and a 80.1% success rate. Lovaglio covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Southwestern Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ovintiv with a $68.00 average price target, which is a 46.3% upside from current levels. In a report issued on July 19, Bank of America Securities also upgraded the stock to Buy with a $60.00 price target.

Marathon Petroleum (MPC)

In a report issued on August 2, Silvio Micheloto from Mizuho Securities reiterated a Buy rating on Marathon Petroleum, with a price target of $125.00. The company’s shares closed last Thursday at $90.17.

According to TipRanks.com, Micheloto is a 5-star analyst with an average return of 48.6% and a 93.0% success rate. Micheloto covers the Utilities sector, focusing on stocks such as HF Sinclair Corporation, Valero Energy, and Phillips 66.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marathon Petroleum with a $117.88 average price target, which is a 28.1% upside from current levels. In a report issued on August 3, Wells Fargo also maintained a Buy rating on the stock with a $117.00 price target.

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