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 the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Public Service Enterprise Group Trading Up 0.3 %

Shares of PEG stock opened at $70.02 on Friday. The stock’s fifty day moving average price is $65.36 and its two-hundred day moving average price is $62.54. The company has a market cap of $34.88 billion, a PE ratio of 19.40, a P/E/G ratio of 3.05 and a beta of 0.56. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $70.46. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently modified their holdings of the company. Addison Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $31,000. Operose Advisors LLC boosted its stake in shares of 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 purchasing an additional 435 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter valued at about $36,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $36,000. Finally, CNB Bank bought a new position in shares of Public Service Enterprise Group during the third quarter worth about $34,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Monday, January 22nd. Barclays increased their target price on 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. Finally, Royal Bank of Canada increased their target price on 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. One 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’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price 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.