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 business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $64.20, for a total transaction of $12,840.00. Following the completion of the sale, the vice president now owns 34,716 shares of the company’s stock, valued at $2,228,767.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Public Service Enterprise Group Stock Up 1.9 %

Shares of NYSE PEG opened at $65.03 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $65.59. The firm has a market capitalization of $32.42 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The firm has a fifty day simple moving average of $60.76 and a two-hundred day simple moving average of $61.04.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results 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 company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after acquiring an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. grew its position in Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after purchasing an additional 726,613 shares during the last quarter. State Street Corp grew its position in Public Service Enterprise Group by 1.1% during the 2nd quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock valued at $1,904,648,000 after purchasing an additional 324,392 shares during the last quarter. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,699,205 shares of the utilities provider’s stock valued at $668,143,000 after purchasing an additional 445,550 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Public Service Enterprise Group by 8.4% during the 4th quarter. Legal & General Group Plc now owns 7,638,084 shares of the utilities provider’s stock valued at $467,068,000 after purchasing an additional 588,839 shares during the last quarter. 72.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company boosted 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 report on Tuesday, March 19th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Monday, January 22nd. Bank of America lifted their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.71.

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.