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

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 stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Public Service Enterprise Group Stock Down 1.4%

Shares of NYSE:PEG opened at $82.35 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm’s 50-day simple moving average is $82.13 and its 200-day simple moving average is $82.38. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 65,308,870 shares of the utilities provider’s stock valued at $5,450,678,000 after acquiring an additional 347,823 shares in the last quarter. State Street Corp grew its position in shares of Public Service Enterprise Group by 0.8% in the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock valued at $2,300,701,000 after purchasing an additional 206,843 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock worth $1,049,973,000 after purchasing an additional 110,087 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Public Service Enterprise Group by 6.2% during the 3rd quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock worth $678,775,000 after purchasing an additional 477,387 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEG has been the topic of a number of analyst reports. BMO Capital Markets decreased their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. TD Cowen raised their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. UBS Group increased their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.19.

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.