Ledyard National Bank Lowers Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ledyard National Bank trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,424 shares of the utilities provider’s stock after selling 1,656 shares during the quarter. Ledyard National Bank’s holdings in Public Service Enterprise Group were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. D.A. Davidson & CO. lifted its stake in shares of Public Service Enterprise Group by 7.5% during the 1st quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock valued at $256,000 after buying an additional 256 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Public Service Enterprise Group by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock worth $92,310,000 after purchasing an additional 83,174 shares in the last quarter. Prudential PLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at approximately $798,000. Cetera Investment Advisers raised its stake in Public Service Enterprise Group by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock valued at $1,793,000 after purchasing an additional 332 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth approximately $214,000. Institutional investors own 72.28% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3 %

NYSE PEG traded up $0.80 during trading hours on Thursday, hitting $63.68. 300,859 shares of the company were exchanged, compared to its average volume of 2,465,753. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $65.46. The company has a quick ratio of 0.45, a current ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $60.21 and a 200 day moving average price of $61.36. The stock has a market cap of $31.73 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 3.60 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.42 billion. Public Service Enterprise Group had a return on equity of 12.20% and a net margin of 23.83%. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 4,122 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $63.00, for a total value of $259,686.00. Following the completion of the sale, the chief executive officer now owns 112,076 shares in the company, valued at approximately $7,060,788. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,722 shares of company stock worth $295,652 over the last quarter. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Public Service Enterprise Group from $70.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 6th. Mizuho boosted their price target on shares of Public Service Enterprise Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. JPMorgan Chase & Co. raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, BMO Capital Markets increased their price target on Public Service Enterprise Group from $59.00 to $63.00 and gave the company a “market perform” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.05.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.