Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,998 shares of the utilities provider’s stock after selling 212 shares during the period. Trust Co. of Vermont’s holdings in Public Service Enterprise Group were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $31,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at about $36,000. Salomon & Ludwin LLC grew its stake 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 valued at $39,000 after buying an additional 560 shares during the period. PFS Partners LLC raised its position in shares of Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.4 %

PEG traded up $1.11 during trading hours on Tuesday, hitting $78.41. 3,670,064 shares of the company’s stock were exchanged, compared to its average volume of 2,869,606. The firm has a market cap of $39.05 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $81.89. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $74.77 and a 200 day moving average of $68.50.

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

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Analyst Ratings Changes

Several equities analysts have recently commented on PEG shares. Barclays upped their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, Scotiabank dropped their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $75.17.

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.