Public Service Enterprise Group Incorporated (NYSE:PEG) VP Rose M. Chernick Sells 200 Shares of Stock

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

Public Service Enterprise Group Stock Down 0.3 %

NYSE PEG opened at $66.49 on Wednesday. The firm has a market cap of $33.15 billion, a PE ratio of 12.96, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $64.14 and its 200 day simple moving average is $62.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. Public Service Enterprise Group’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.61%. Public Service Enterprise Group’s payout ratio is 46.78%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent research reports. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Monday, January 22nd. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets dropped their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in Public Service Enterprise Group by 13.0% in the 1st quarter. Venturi Wealth Management LLC now owns 5,546 shares of the utilities provider’s stock valued at $370,000 after buying an additional 638 shares during the last quarter. Masso Torrence Wealth Management Inc. boosted its position in Public Service Enterprise Group by 22.0% in the 1st quarter. Masso Torrence Wealth Management Inc. now owns 5,075 shares of the utilities provider’s stock valued at $339,000 after buying an additional 916 shares during the last quarter. Wesbanco Bank Inc. boosted its position in Public Service Enterprise Group by 47.1% in the 1st quarter. Wesbanco Bank Inc. now owns 12,296 shares of the utilities provider’s stock valued at $821,000 after buying an additional 3,936 shares during the last quarter. Summit Trail Advisors LLC boosted its position in Public Service Enterprise Group by 213.9% in the 1st quarter. Summit Trail Advisors LLC now owns 16,650 shares of the utilities provider’s stock valued at $1,112,000 after buying an additional 11,345 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Public Service Enterprise Group by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 166,261 shares of the utilities provider’s stock valued at $11,103,000 after buying an additional 1,426 shares during the last quarter. 73.34% of the stock is currently owned by 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.