Public Service Enterprise Group (NYSE:PEG) Shares Gap Down – Should You Sell?

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price gapped down before the market opened on Monday . The stock had previously closed at $87.31, but opened at $84.20. Public Service Enterprise Group shares last traded at $83.15, with a volume of 598,468 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.46.

Public Service Enterprise Group Price Performance

The stock’s 50-day moving average is $86.48 and its 200 day moving average is $78.75. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market capitalization of $41.19 billion, a PE ratio of 25.45, a P/E/G ratio of 2.94 and a beta of 0.61.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,010 shares of company stock worth $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the second quarter valued at $35,000. Salomon & Ludwin LLC boosted its position in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.