Insider Selling: Public Service Enterprise Group Incorporated (NYSE:PEG) VP Sells 200 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) VP Rose M. Chernick sold 200 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available at the SEC website.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $67.23 on Thursday. The stock’s fifty day simple moving average is $64.31 and its 200 day simple moving average is $62.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 2.92 and a beta of 0.58. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51.

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

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.57%. Public Service Enterprise Group’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PEG shares. 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 note on Monday, March 25th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada lifted their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 valued at $3,509,864,000 after purchasing an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Legal & General Group Plc raised its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after acquiring an additional 87,974 shares during the last quarter. Northern Trust Corp raised its position in shares of Public Service Enterprise Group by 2.8% during the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock worth $350,395,000 after acquiring an additional 170,586 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after acquiring an additional 221,071 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

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.