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

Ledyard National Bank cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,556 shares of the utilities provider’s stock after selling 160 shares during the period. Ledyard National Bank’s holdings in Public Service Enterprise Group were worth $317,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Family Firm Inc. purchased a new position in Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the second quarter worth about $35,000. Salomon & Ludwin LLC raised its holdings in Public Service Enterprise Group by 1,866.7% in the first 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. PFS Partners LLC raised its holdings in Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after buying an additional 300 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter worth about $48,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Public Service Enterprise Group Stock Performance

PEG opened at $89.77 on Wednesday. The firm has a market cap of $44.72 billion, a P/E ratio of 27.20, a PEG ratio of 2.71 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a 50 day simple moving average of $85.11 and a two-hundred day simple moving average of $77.43. 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 (NYSE:PEG) last posted its quarterly earnings results 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were 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 owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is owned by insiders.

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.