Public Service Enterprise Group (NYSE:PEG) SVP Richard Thigpen Sells 4,920 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Public Service Enterprise Group Stock Down 0.4%

Shares of NYSE:PEG opened at $83.44 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm has a market cap of $41.65 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.46 and a beta of 0.55. The stock’s 50-day moving average price is $82.12 and its two-hundred day moving average price is $82.38. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEG shares. BTIG Research started coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. TD Cowen upped their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. Finally, Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC raised its position in shares of Public Service Enterprise Group by 8.4% in the 1st quarter. Cerity Partners LLC now owns 108,609 shares of the utilities provider’s stock valued at $8,938,000 after purchasing an additional 8,442 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Public Service Enterprise Group by 8.6% in the first quarter. New York State Common Retirement Fund now owns 276,068 shares of the utilities provider’s stock worth $22,720,000 after buying an additional 21,886 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Public Service Enterprise Group by 2.6% in the first quarter. Apollon Wealth Management LLC now owns 15,495 shares of the utilities provider’s stock valued at $1,275,000 after acquiring an additional 395 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Public Service Enterprise Group by 29.1% during the 1st quarter. Victory Capital Management Inc. now owns 658,550 shares of the utilities provider’s stock valued at $54,199,000 after acquiring an additional 148,604 shares during the last quarter. Finally, Private Wealth Management Group LLC grew its holdings in Public Service Enterprise Group by 407.9% during the 1st quarter. Private Wealth Management Group LLC now owns 4,419 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 3,549 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

About Public Service Enterprise Group

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.