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 on Monday, April 22nd. The stock was sold at an average price of $65.78, for a total value of $13,156.00. Following the sale, the vice president now directly owns 34,516 shares of the company’s stock, valued at $2,270,462.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Public Service Enterprise Group Trading Up 1.1 %

Shares of PEG stock opened at $67.23 on Thursday. The firm has a 50-day moving average price of $64.31 and a 200 day moving average price of $62.18. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.51. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.92 and a beta of 0.58. 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 (NYSE:PEG) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. Research 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 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. This represents a $2.40 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets decreased their price target 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. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Barclays raised their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockline Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $1,185,000. Allspring Global Investments Holdings LLC increased its stake in shares of Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after acquiring an additional 17,838 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after acquiring an additional 169,425 shares during the last quarter. PATRIZIA Pty Ltd acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $5,158,000. Finally, Duality Advisers LP increased its position in Public Service Enterprise Group by 716.0% during the 4th quarter. Duality Advisers LP now owns 45,811 shares of the utilities provider’s stock worth $2,801,000 after purchasing an additional 40,197 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.