Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard T. Thigpen Sells 5,900 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $86.73 on Wednesday. The firm’s 50 day moving average price is $86.95 and its two-hundred day moving average price is $79.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.46 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The firm has a market cap of $43.21 billion, a P/E ratio of 21.31, a PEG ratio of 3.14 and a beta of 0.61.

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 analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors have recently bought and sold shares of PEG. Raymond James & Associates lifted its position in shares of Public Service Enterprise Group by 315.2% in the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $71,298,000. Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock valued at $134,006,000 after acquiring an additional 665,105 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Public Service Enterprise Group by 381.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after acquiring an additional 634,587 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets upped 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. 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 report on Thursday, August 29th. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Finally, UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.