Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Sells $124,295.60 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Public Service Enterprise Group Trading Up 0.5 %

PEG opened at $92.02 on Friday. The stock has a 50-day moving average of $82.58 and a 200 day moving average of $75.28. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12 month low of $55.07 and a 12 month high of $92.20. The firm has a market cap of $45.83 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.22 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm posted $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at $36,000. Salomon & Ludwin LLC grew its position 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 acquiring an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $41,000. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PEG. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, June 17th. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.46.

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.