Trust Co. of Vermont Lowers Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Trust Co. of Vermont decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,998 shares of the utilities provider’s stock after selling 212 shares during the quarter. Trust Co. of Vermont’s holdings in Public Service Enterprise Group were worth $589,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Evergreen Wealth Solutions LLC raised its stake in Public Service Enterprise Group by 1.7% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after acquiring an additional 159 shares during the period. PDS Planning Inc lifted its stake in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after buying an additional 181 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Public Service Enterprise Group by 1.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock worth $1,167,000 after buying an additional 183 shares during the period. United Community Bank increased its stake in Public Service Enterprise Group by 12.9% in the 1st quarter. United Community Bank now owns 1,616 shares of the utilities provider’s stock worth $108,000 after buying an additional 185 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after acquiring an additional 187 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PEG shares. BMO Capital Markets upped their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, June 17th. Bank of America increased their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Scotiabank cut their price target on 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. Finally, Mizuho upped their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.17.

Public Service Enterprise Group Trading Up 1.4 %

Shares of PEG traded up $1.11 during midday trading on Tuesday, hitting $78.41. The stock had a trading volume of 3,670,064 shares, compared to its average volume of 2,869,606. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.62. The stock’s 50 day moving average is $74.77 and its 200 day moving average is $68.50. The firm has a market cap of $39.05 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

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.