Tamara Louise Linde Sells 16,400 Shares of Public Service Enterprise Group Inc. (PEG) Stock

Public Service Enterprise Group Inc. (NYSE:PEG) EVP Tamara Louise Linde sold 16,400 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $50.36, for a total value of $825,904.00. Following the transaction, the executive vice president now owns 51,604 shares of the company’s stock, valued at $2,598,777.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:PEG opened at $50.45 on Thursday. The stock has a market capitalization of $25,445.19, a price-to-earnings ratio of 17.22, a PEG ratio of 4.15 and a beta of 0.39. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.59 and a current ratio of 0.79. Public Service Enterprise Group Inc. has a 52-week low of $41.67 and a 52-week high of $53.28.

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Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, February 23rd. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Public Service Enterprise Group had a return on equity of 11.25% and a net margin of 17.33%. During the same period last year, the firm posted $0.54 earnings per share. equities analysts anticipate that Public Service Enterprise Group Inc. will post 3.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.80 annualized dividend and a yield of 3.57%. Public Service Enterprise Group’s payout ratio is 61.43%.

Several equities analysts have recently weighed in on the company. Bank of America upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a report on Monday. JPMorgan Chase raised their price target on Public Service Enterprise Group from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, April 10th. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Royal Bank of Canada reaffirmed a “hold” rating and set a $52.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, March 14th. Finally, Morgan Stanley increased their price objective on Public Service Enterprise Group from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, March 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and an average price target of $51.61.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Public Service Enterprise Group by 1.4% in the fourth quarter. BlackRock Inc. now owns 48,420,436 shares of the utilities provider’s stock worth $2,493,654,000 after purchasing an additional 674,875 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Public Service Enterprise Group by 14.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,947,022 shares of the utilities provider’s stock worth $357,772,000 after purchasing an additional 892,228 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Public Service Enterprise Group by 14.0% in the fourth quarter. Allianz Asset Management GmbH now owns 3,590,147 shares of the utilities provider’s stock worth $184,892,000 after purchasing an additional 441,556 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Public Service Enterprise Group by 2.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,059,159 shares of the utilities provider’s stock worth $106,047,000 after purchasing an additional 48,943 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Public Service Enterprise Group by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,891,625 shares of the utilities provider’s stock worth $97,419,000 after purchasing an additional 70,707 shares during the last quarter. 68.37% of the stock is currently owned by institutional investors and hedge funds.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

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