Rose M. Chernick Sells 200 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) 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 shares were sold at an average price of $65.78, for a total transaction of $13,156.00. Following the transaction, the vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.22 during midday trading on Tuesday, hitting $66.49. 2,021,221 shares of the stock traded hands, compared to its average volume of 2,835,953. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The firm has a market capitalization of $33.15 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The business’s 50 day moving average price is $63.98 and its two-hundred day moving average price is $62.08.

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

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analyst Weigh In

PEG has been the subject of several research reports. Barclays increased their price target 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. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Evercore ISI increased their price target 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. BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Finally, Scotiabank dropped their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Modera Wealth Management LLC raised its stake in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 170 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Public Service Enterprise Group by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after acquiring an additional 177 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock worth $1,071,000 after acquiring an additional 179 shares in the last quarter. Lido Advisors LLC raised its stake in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 183 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Public Service Enterprise Group by 1.1% during the first quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock worth $1,167,000 after purchasing an additional 183 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.