Ralph A. Larossa Sells 1,378 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Public Service Enterprise Group Stock Performance

PEG opened at $86.25 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The stock has a market cap of $42.97 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The business’s 50 day moving average is $87.80 and its 200-day moving average is $83.65. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.78%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Institutional Trading of Public Service Enterprise Group

A number of institutional investors have recently made changes to their positions in PEG. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $48,000. Legacy Investment Solutions LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $59,000. Rothschild Investment LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $58,000. Finally, Fortitude Family Office LLC boosted its stake in Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

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.