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

by · The Cerbat Gem

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, 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 available 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 stock was sold at an average price of $79.54, for a total transaction 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 Trading Down 1.5 %

NYSE:PEG opened at $88.70 on Friday. The stock has a market capitalization of $44.19 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.72 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The stock has a fifty day moving average price of $83.30 and a two-hundred day moving average price of $75.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 72.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. UBS Group upped their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. One 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.62.

Get Our Latest Analysis on Public Service Enterprise Group

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Douglas Lane & Associates LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $207,000. McGlone Suttner Wealth Management Inc. increased its holdings in Public Service Enterprise Group by 34.5% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 5,010 shares of the utilities provider’s stock valued at $447,000 after acquiring an additional 1,285 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Public Service Enterprise Group by 2.5% in the third quarter. CHICAGO TRUST Co NA now owns 37,557 shares of the utilities provider’s stock valued at $3,350,000 after purchasing an additional 929 shares in the last quarter. Retirement Planning Group LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $333,000. Finally, HCR Wealth Advisors purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at approximately $207,000. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

(Get Free Report)

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.

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