Public Service Enterprise Group Incorporated (NYSE:PEG) COO Kim C. Hanemann Sells 956 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded down $0.30 during trading on Friday, hitting $92.05. 279,320 shares of the stock were exchanged, compared to its average volume of 2,757,441. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $93.00. The stock 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. The company has a fifty day moving average price of $88.21 and a 200-day moving average price of $80.46. 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 (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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 the consensus estimate of $2.44 billion. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $48,000. Finally, Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several analyst reports. Bank of America boosted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays dropped their target price on shares of 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. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. UBS Group boosted their price objective on shares of 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. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Four equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.69.

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.