Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Sells $95,561.70 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $70.45 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $70.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.79. The company has a market capitalization of $35.09 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a fifty day moving average of $65.56 and a 200-day moving average of $62.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The business’s revenue was down 26.5% on a year-over-year basis. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PEG shares. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Barclays lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Bank of America lifted their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Scotiabank reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the stock. Addison Advisors LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth $31,000. Operose Advisors LLC raised its position in Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the period. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the 1st quarter worth $36,000. Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth $36,000. Finally, CNB Bank purchased a new position in Public Service Enterprise Group in the 3rd quarter worth $34,000. 73.34% of the stock is owned by institutional investors.

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.