Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa Sells 1,378 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.05 during trading on Tuesday, hitting $83.43. 1,574,260 shares of the stock were exchanged, compared to its average volume of 2,319,948. The company has a market capitalization of $41.56 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. 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 Incorporated has a 1-year low of $57.24 and a 1-year high of $95.22. The company’s fifty day simple moving average is $86.78 and its 200-day simple moving average is $85.31.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.88%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its holdings in shares of Public Service Enterprise Group by 4.0% in the 2nd quarter. Cetera Investment Advisers now owns 125,717 shares of the utilities provider’s stock worth $9,265,000 after buying an additional 4,837 shares in the last quarter. Czech National Bank grew its position in Public Service Enterprise Group by 6.9% in the third quarter. Czech National Bank now owns 101,480 shares of the utilities provider’s stock valued at $9,053,000 after acquiring an additional 6,567 shares during the period. GAMMA Investing LLC raised its stake in Public Service Enterprise Group by 24.2% during the third quarter. GAMMA Investing LLC now owns 5,971 shares of the utilities provider’s stock worth $533,000 after acquiring an additional 1,162 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Public Service Enterprise Group by 220.6% during the third quarter. Diversified Trust Co now owns 25,437 shares of the utilities provider’s stock valued at $2,269,000 after acquiring an additional 17,503 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Public Service Enterprise Group by 759.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 44,273 shares of the utilities provider’s stock valued at $3,950,000 after purchasing an additional 39,124 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PEG shares. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.83.

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.