Insider Selling: Public Service Enterprise Group Incorporated (NYSE:PEG) COO Sells 956 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Public Service Enterprise Group Price Performance

NYSE PEG traded down $0.30 on Friday, hitting $92.05. The stock had a trading volume of 279,320 shares, compared to its average volume of 2,757,441. The firm has a 50-day moving average of $88.21 and a 200-day moving average of $80.46. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $93.00. The company has a market capitalization of $45.86 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 3.31 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

PEG has been the topic of several research reports. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Bank of America upped their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Heritage Wealth Management Inc. bought a new stake in Public Service Enterprise Group in the 2nd quarter worth $422,000. QRG Capital Management Inc. raised its position in Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after purchasing an additional 15,505 shares during the last quarter. CWM LLC grew its position in shares of Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after buying an additional 8,723 shares during the last quarter. Czech National Bank increased its stake in shares of Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after buying an additional 7,235 shares during the period. Finally, Colonial River Investments LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth $634,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.