Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lessened by Ledyard National Bank

Ledyard National Bank cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,134 shares of the utilities provider’s stock after selling 505 shares during the period. Ledyard National Bank’s holdings in Public Service Enterprise Group were worth $253,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Operose Advisors LLC increased its stake in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Addison Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $31,000. CNB Bank purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $36,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PEG shares. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Barclays lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Scotiabank lowered their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock valued at $511,814 over the last 90 days. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

PEG traded up $0.86 during trading on Tuesday, hitting $69.50. The company’s stock had a trading volume of 1,114,295 shares, compared to its average volume of 2,820,826. The firm’s 50 day moving average price is $64.82 and its two-hundred day moving average price is $62.37. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $69.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.45%. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Public Service Enterprise Group Company Profile

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.