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 that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 value of $1,535,133.02.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.23 on Tuesday, reaching $80.65. 1,675,396 shares of the company’s stock traded hands, compared to its average volume of 2,804,219. The stock has a market cap of $40.18 billion, a PE ratio of 22.40, a P/E/G ratio of 2.91 and a beta of 0.60. 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 Incorporated has a 12 month low of $53.71 and a 12 month high of $81.89. The stock has a 50-day simple moving average of $78.11 and a 200 day simple moving average of $72.31.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. 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 payout ratio is 66.48%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEG shares. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, June 17th. Finally, Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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 large investors have recently bought and sold shares of the stock. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC grew its position in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $41,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.