Public Service Enterprise Group Incorporated (NYSE:PEG) VP Sells $13,156.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) VP Rose M. Chernick sold 200 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $65.78, for a total transaction of $13,156.00. Following the completion of the sale, the vice president now directly owns 34,516 shares of the company’s stock, valued at approximately $2,270,462.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $68.09 on Friday. The firm has a market cap of $33.95 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The firm’s 50 day simple moving average is $64.48 and its 200-day simple moving average is $62.22. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $68.31.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the business. Operose Advisors LLC grew its holdings in Public Service Enterprise Group by 435.0% in the third 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 last quarter. Addison Advisors LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth $31,000. CNB Bank purchased a new position in Public Service Enterprise Group in the third quarter worth $34,000. Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the first quarter worth $36,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PEG. Barclays raised their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

About Public Service Enterprise Group

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.