Ralph A. Larossa Sells 1,374 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Service Enterprise Group Trading Up 0.6 %

NYSE PEG opened at $70.45 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $70.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.46. The company has a market capitalization of $35.09 billion, a PE ratio of 19.52, a P/E/G ratio of 3.05 and a beta of 0.56. The company has a fifty day moving average of $65.36 and a 200 day moving average of $62.54.

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

Public Service Enterprise Group Dividend Announcement

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

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently made changes to their positions in the company. Operose Advisors LLC grew its position in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares during the period. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. CNB Bank acquired a new position in Public Service Enterprise Group in the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth approximately $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the first quarter worth approximately $36,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Scotiabank dropped their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

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.