Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Sells $91,192.38 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report) CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Public Service Enterprise Group Trading Down 0.3 %

Shares of Public Service Enterprise Group stock traded down $0.18 during trading on Tuesday, hitting $66.46. The company’s stock had a trading volume of 2,461,264 shares, compared to its average volume of 2,916,730. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market cap of $33.14 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.92 and a beta of 0.58. The stock has a 50-day moving average price of $61.48 and a two-hundred day moving average price of $61.25. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.61%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. State Street Corp raised its holdings in shares of Public Service Enterprise Group by 1.1% in the 2nd quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock worth $1,904,648,000 after acquiring an additional 324,392 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock worth $638,876,000 after acquiring an additional 221,305 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Public Service Enterprise Group by 8.4% in the 4th quarter. Legal & General Group Plc now owns 7,638,084 shares of the utilities provider’s stock worth $467,068,000 after acquiring an additional 588,839 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEG. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets reduced 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 report on Tuesday, February 27th. Finally, Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.38.

Read Our Latest Stock Report on PEG

About Public Service Enterprise Group

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

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