Tamara Louise Linde Sells 9,563 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 transaction of $1,535,133.02.

Public Service Enterprise Group Stock Up 0.3 %

NYSE PEG traded up $0.23 during mid-day trading on Tuesday, hitting $80.65. The company’s stock had a trading volume of 1,675,396 shares, compared to its average volume of 2,804,219. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.91 and a beta of 0.60. The company’s 50 day simple moving average is $78.11 and its 200 day simple moving average is $72.31. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.98%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent research reports. Bank of America increased their price target on 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. Scotiabank lifted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets boosted their price objective on 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. Morgan Stanley raised their target price on Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.33.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently modified their holdings of PEG. Gilbert & Cook Inc. grew its position in Public Service Enterprise Group by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock valued at $448,000 after buying an additional 373 shares during the period. Lincoln National Corp lifted its stake in Public Service Enterprise Group by 31.7% in the fourth quarter. Lincoln National Corp now owns 5,437 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 1,310 shares during the last quarter. Principal Securities Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at $273,000. BNP Paribas Financial Markets increased its position in Public Service Enterprise Group by 166.5% in the fourth quarter. BNP Paribas Financial Markets now owns 300,146 shares of the utilities provider’s stock worth $18,354,000 after buying an additional 187,523 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Public Service Enterprise Group by 5.7% during the 4th quarter. NBC Securities Inc. now owns 6,494 shares of the utilities provider’s stock valued at $397,000 after buying an additional 353 shares during the last quarter. Hedge funds and other institutional investors 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.