Ralph Izzo Sells 9,883 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $65.58, for a total transaction of $648,127.14. Following the completion of the transaction, the chief executive officer now directly owns 441,613 shares in the company, valued at $28,960,980.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ralph Izzo also recently made the following trade(s):

• On Friday, July 1st, Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45.
• On Wednesday, June 1st, Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $68.10, for a total transaction of $673,032.30.

Public Service Enterprise Group Trading Up 0.4 %

PEG opened at $65.38 on Thursday. The company’s 50 day moving average is $63.36 and its 200-day moving average is $66.35. Public Service Enterprise Group Incorporated has a 1-year low of $58.19 and a 1-year high of $75.61. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25. The company has a market cap of $32.64 billion, a P/E ratio of -25.44, a PEG ratio of 5.34 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings results 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). Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.47 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 annualized dividend and a yield of 3.30%. Public Service Enterprise Group’s dividend payout ratio is presently -84.05%.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently added to or reduced their stakes in the business. Bromfield Sneider Wealth Advisors acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $27,000. Tcwp LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $28,000. Covestor Ltd acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $32,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $30,000. Finally, Capital Analysts LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $35,000. 70.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $75.00 to $81.00 and gave the stock a “maintains” rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Mizuho lowered their price target on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. TheStreet lowered shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday, June 13th. Finally, Barclays decreased their target price on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.91.

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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