Key Points
- SVP Richard Thigpen sold 4,920 shares at an average price of $82.33 for a total of $405,063.60, cutting his stake by 15.84% to 26,134 shares (about $2.15M), per an SEC filing.
- Public Service Enterprise Group beat Q3 estimates with $1.13 EPS (vs. $1.02 expected) and $3.23B revenue (up 22.1% YoY), and issued FY2025 guidance of $4.000–4.060 EPS versus a sell-side consensus of ~3.67.
- Analysts hold a consensus rating of "Moderate Buy" with an average target of $91.19; the stock has a $41.65B market cap, P/E of 21.07, and roughly 73.3% institutional ownership.
Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) SVP Richard Thigpen sold 4,920 shares of the business's stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares of the company's stock, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Public Service Enterprise Group Stock Performance
Shares of NYSE PEG opened at $83.44 on Thursday. 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 moving average price is $82.12 and its two-hundred day moving average price is $82.38. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The stock has a market capitalization of $41.65 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.46 and a beta of 0.55.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business's revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Wells Fargo & Company initiated coverage on shares of 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. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a "market perform" rating for the company in a research report on Tuesday, November 4th. Finally, 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 research report on Wednesday, November 5th. Eight 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.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average target price of $91.19.
Get Our Latest Stock Analysis on Public Service Enterprise Group
Institutional Investors Weigh In On Public Service Enterprise Group
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $564,238,000. Bank of America Corp DE lifted its stake in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Invesco Ltd. boosted its holdings in Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider's stock worth $544,973,000 after buying an additional 1,408,707 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Public Service Enterprise Group in the first quarter worth approximately $95,076,000. 73.34% of the stock is currently owned by institutional investors.
About Public Service Enterprise Group
(
Get Free Report)
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.
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