Public Service Enterprise Group Incorporated (NYSE:PEG) VP Sells $13,102.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) VP Rose M. Chernick sold 200 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $65.51, for a total value of $13,102.00. Following the sale, the vice president now owns 30,521 shares in the company, valued at $1,999,430.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $64.74 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.79. Public Service Enterprise Group Incorporated has a 1-year low of $58.19 and a 1-year high of $75.61. The stock’s 50-day moving average is $63.21 and its 200 day moving average is $66.34.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. Public Service Enterprise Group’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.48 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, September 8th. Public Service Enterprise Group’s payout ratio is -110.20%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Reaves W H & Co. Inc. grew its holdings in shares of Public Service Enterprise Group by 11.3% in the second quarter. Reaves W H & Co. Inc. now owns 1,600,543 shares of the utilities provider’s stock worth $101,282,000 after acquiring an additional 161,869 shares during the period. M&T Bank Corp grew its holdings in shares of Public Service Enterprise Group by 21.6% in the second quarter. M&T Bank Corp now owns 42,473 shares of the utilities provider’s stock worth $2,553,000 after acquiring an additional 7,555 shares during the period. Archer Investment Corp grew its holdings in shares of Public Service Enterprise Group by 10,831.3% in the second quarter. Archer Investment Corp now owns 1,749 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 1,733 shares during the period. Gilbert & Cook Inc. grew its holdings in shares of Public Service Enterprise Group by 4.7% in the second quarter. Gilbert & Cook Inc. now owns 5,760 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 256 shares during the period. Finally, Abundance Wealth Counselors grew its holdings in shares of Public Service Enterprise Group by 5.7% in the second quarter. Abundance Wealth Counselors now owns 10,964 shares of the utilities provider’s stock worth $694,000 after acquiring an additional 593 shares during the period. Hedge funds and other institutional investors own 70.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEG. TheStreet lowered Public Service Enterprise Group from a “b” rating to a “c” rating in a research note on Monday, June 13th. Barclays lowered their target price on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Credit Suisse Group started coverage on Public Service Enterprise Group in a report on Monday, April 25th. They set a “neutral” rating and a $76.00 price target for the company. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley decreased their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $70.36.

Public Service Enterprise Group Company Profile

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Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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