Banque Cantonale Vaudoise Buys 8,171 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Banque Cantonale Vaudoise boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.2% during the third quarter, Holdings Channel.com reports. The firm owned 80,901 shares of the utilities provider’s stock after purchasing an additional 8,171 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Public Service Enterprise Group were worth $7,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. OneAscent Financial Services LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at about $293,000. New England Asset Management Inc. boosted its stake in Public Service Enterprise Group by 3.0% in the third quarter. New England Asset Management Inc. now owns 90,118 shares of the utilities provider’s stock valued at $8,039,000 after acquiring an additional 2,605 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in Public Service Enterprise Group in the third quarter worth $280,000. Capital City Trust Co. FL increased its position in shares of Public Service Enterprise Group by 0.9% during the third quarter. Capital City Trust Co. FL now owns 47,221 shares of the utilities provider’s stock worth $4,213,000 after purchasing an additional 419 shares in the last quarter. Finally, Planning Directions Inc. purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $232,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,783 shares of company stock valued at $2,381,626. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Evercore ISI upped their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 0.5 %

Shares of PEG opened at $89.43 on Tuesday. The firm has a market cap of $44.56 billion, a P/E ratio of 21.97, a PEG ratio of 3.27 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The stock’s 50 day moving average is $87.68 and its two-hundred day moving average is $80.17. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.68%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.