Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Sells $518,905.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Public Service Enterprise Group Stock Down 0.0 %

Shares of NYSE:PEG opened at $87.00 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market cap of $43.35 billion, a P/E ratio of 21.38, a P/E/G ratio of 3.20 and a beta of 0.61. The firm has a fifty day moving average price of $87.20 and a 200 day moving average price of $79.69.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Country Trust Bank purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.