Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Public Service Enterprise Group Stock Performance
Public Service Enterprise Group stock traded down $0.32 on Friday, hitting $83.61. The company's stock had a trading volume of 1,544,159 shares, compared to its average volume of 2,227,200. The company has a fifty day moving average price of $85.93 and a 200-day moving average price of $85.41. The firm has a market cap of $41.66 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Public Service Enterprise Group's payout ratio is 58.97%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on PEG shares. Scotiabank raised their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, October 21st. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.83.
View Our Latest Report on Public Service Enterprise Group
Institutional Investors Weigh In On Public Service Enterprise Group
A number of hedge funds have recently modified their holdings of PEG. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $376,209,000. Jennison Associates LLC boosted its stake in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the period. FMR LLC increased its holdings in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Raymond James & Associates raised its stake in shares of Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock valued at $255,954,000 after purchasing an additional 663,012 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Public Service Enterprise Group by 376.3% in the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after purchasing an additional 640,485 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.
Public Service Enterprise Group Company Profile
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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.
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