Public Service Co. (NYSE:PEG) EVP Tamara Louise Linde sold 16,400 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $50.36, for a total value of $825,904.00. Following the completion of the sale, the executive vice president now directly owns 51,604 shares of the company’s stock, valued at approximately $2,598,777.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Public Service stock opened at $50.03 on Friday. Public Service Co. has a 1 year low of $41.67 and a 1 year high of $53.28. The firm has a market cap of $25,677.38, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 3.73 and a beta of 0.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.59.
Public Service (NYSE:PEG) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Public Service had a return on equity of 11.25% and a net margin of 17.33%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $0.54 EPS. sell-side analysts forecast that Public Service Co. will post 3.13 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in PEG. Prentiss Smith & Co. Inc. acquired a new stake in shares of Public Service during the fourth quarter worth $113,000. Avestar Capital LLC acquired a new stake in shares of Public Service during the fourth quarter worth $106,000. Gradient Investments LLC acquired a new stake in shares of Public Service during the fourth quarter worth $163,000. Tower Research Capital LLC TRC lifted its holdings in shares of Public Service by 253.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,790 shares of the utilities provider’s stock worth $195,000 after buying an additional 2,717 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in shares of Public Service during the fourth quarter worth $206,000. 68.37% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on PEG. Bank of America raised Public Service from a “neutral” rating to a “buy” rating in a report on Monday. JPMorgan Chase increased their price objective on Public Service from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, April 10th. Zacks Investment Research downgraded Public Service from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Royal Bank of Canada reissued a “hold” rating and issued a $52.00 price objective on shares of Public Service in a report on Wednesday, March 14th. Finally, Morgan Stanley increased their price objective on Public Service from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, March 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.61.
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About Public Service
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
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