Tamara Louise Linde Sells 9,564 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tamara Louise Linde also recently made the following trade(s):

• On Monday, September 9th, Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $79.54, for a total value of $760,641.02.
• On Thursday, August 15th, Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02.

Public Service Enterprise Group Stock Down 1.2 %

Shares of Public Service Enterprise Group stock opened at $87.66 on Friday. The stock has a 50-day simple moving average of $83.48 and a 200-day simple moving average of $76.00. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The firm has a market cap of $43.66 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.72 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $0.70 earnings per share. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.74%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Barclays upped their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Scotiabank raised 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 research note on Tuesday, August 20th. Finally, Bank of America boosted their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.62.

Institutional Trading of Public Service Enterprise Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elo Mutual Pension Insurance Co raised its stake in shares of Public Service Enterprise Group by 3.9% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 43,393 shares of the utilities provider’s stock valued at $2,653,000 after acquiring an additional 1,632 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Public Service Enterprise Group by 23.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after purchasing an additional 455,693 shares during the period. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $478,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $11,912,000. Finally, Able Wealth Management LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $476,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.