Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa Sells 1,378 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Service Enterprise Group Price Performance

PEG traded down $0.70 on Monday, hitting $77.03. 4,460,593 shares of the company's stock traded hands, compared to its average volume of 2,834,448. The company's 50 day simple moving average is $82.34 and its 200-day simple moving average is $86.04. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The firm has a market cap of $38.40 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.63 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.27%. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $25,000. REAP Financial Group LLC lifted its position in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after buying an additional 162 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $39,000. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PEG shares. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.65.

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.