Ralph A. Larossa Sells 1,374 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $66.64 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.91 and a beta of 0.58. The business has a 50-day simple moving average of $61.82 and a 200 day simple moving average of $61.32. 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 issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during 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%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.60 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockline Wealth Management LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $1,185,000. PATRIZIA Pty Ltd purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $5,158,000. Xponance Inc. boosted its stake in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock worth $3,655,000 after buying an additional 2,825 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Public Service Enterprise Group by 97.7% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 140,087 shares of the utilities provider’s stock worth $8,566,000 after buying an additional 69,236 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Public Service Enterprise Group by 58.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,477 shares of the utilities provider’s stock worth $22,620,000 after buying an additional 146,463 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PEG shares. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Barclays lifted their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Royal Bank of Canada lifted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.91.

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.