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 business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $91.60 on Friday. The firm has a 50-day simple moving average of $82.26 and a 200-day simple moving average of $75.09. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $45.63 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $54.80 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEG. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, June 17th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Morgan Stanley increased their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $81.46.

Institutional Trading of Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in the stock. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the second quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at about $36,000. Salomon & Ludwin LLC boosted its holdings in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $41,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.