Public Service Enterprise Group Incorporated (NYSE:PEG) VP Sells $13,156.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) VP Rose M. Chernick sold 200 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $65.78, for a total transaction of $13,156.00. Following the sale, the vice president now owns 34,516 shares of the company’s stock, valued at approximately $2,270,462.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Public Service Enterprise Group Stock Down 0.3 %

PEG traded down $0.22 during trading on Tuesday, reaching $66.49. The stock had a trading volume of 2,021,221 shares, compared to its average volume of 2,835,953. The stock’s 50 day moving average is $63.98 and its two-hundred day moving average is $62.08. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $33.15 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the firm posted $0.64 earnings per share. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 3.61%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Modera Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Public Service Enterprise Group by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after acquiring an additional 177 shares during the period. Strategic Investment Advisors MI boosted its holdings in Public Service Enterprise Group by 1.0% during the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares during the period. Lido Advisors LLC boosted its holdings in Public Service Enterprise Group by 4.1% during the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 183 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in Public Service Enterprise Group by 1.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock valued at $1,167,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Bank of America boosted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research note on Monday, January 22nd. Finally, Barclays increased their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.