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 the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Service Enterprise Group Stock Up 0.7 %

Shares of Public Service Enterprise Group stock traded up $0.59 during trading on Wednesday, hitting $83.85. The company’s stock had a trading volume of 2,350,172 shares, compared to its average volume of 2,686,230. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The company has a market capitalization of $41.80 billion, a PE ratio of 20.60, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a fifty day simple moving average of $82.77 and a two-hundred day simple moving average of $86.11. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently modified their holdings of the stock. Centre Asset Management LLC raised its position in shares of Public Service Enterprise Group by 3.2% in the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider’s stock worth $324,000 after purchasing an additional 121 shares during the last quarter. Cullen Investment Group LTD. increased its stake in Public Service Enterprise Group by 100.5% during the 1st quarter. Cullen Investment Group LTD. now owns 53,862 shares of the utilities provider’s stock valued at $4,433,000 after purchasing an additional 26,995 shares in the last quarter. 111 Capital purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $349,000. Thoma Capital Management LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $253,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 86,525 shares of the utilities provider’s stock worth $7,310,000 after buying an additional 8,022 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEG. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Finally, Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

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.