Public Service Enterprise Group Inc. (NYSE:PEG) COO Sells $94,297.50 in Stock

Public Service Enterprise Group Inc. (NYSE:PEG) COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $57.15, for a total transaction of $94,297.50. Following the sale, the chief operating officer now directly owns 81,768 shares of the company’s stock, valued at approximately $4,673,041.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of PEG opened at $56.87 on Monday. Public Service Enterprise Group Inc. has a 12 month low of $49.22 and a 12 month high of $61.63. The stock’s fifty day simple moving average is $59.79. The firm has a market capitalization of $28.91 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 7.77 and a beta of 0.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities research analysts predict that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s payout ratio is 60.26%.

A number of institutional investors and hedge funds have recently made changes to their positions in PEG. Dimensional Fund Advisors LP grew its stake in shares of Public Service Enterprise Group by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,933 shares of the utilities provider’s stock worth $60,365,000 after purchasing an additional 72,965 shares in the last quarter. Geode Capital Management LLC boosted its stake in Public Service Enterprise Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 6,527,327 shares of the utilities provider’s stock valued at $339,147,000 after acquiring an additional 489,501 shares in the last quarter. Jane Street Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $237,000. American Century Companies Inc. boosted its stake in Public Service Enterprise Group by 0.9% in the fourth quarter. American Century Companies Inc. now owns 218,541 shares of the utilities provider’s stock valued at $11,375,000 after acquiring an additional 1,973 shares in the last quarter. Finally, CenturyLink Investment Management Co acquired a new position in Public Service Enterprise Group in the first quarter valued at $686,000. Institutional investors and hedge funds own 68.76% of the company’s stock.

Several brokerages have recently issued reports on PEG. KeyCorp began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 price objective for the company. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Citigroup downgraded shares of 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, July 29th. Mizuho increased their target price on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. cut shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.41.

About Public Service Enterprise Group

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 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 to customers.

Read More: The Role of a Fiduciary and Individual Investors

Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.