Banque Cantonale Vaudoise Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Banque Cantonale Vaudoise increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 80,901 shares of the utilities provider's stock after purchasing an additional 8,171 shares during the period. Banque Cantonale Vaudoise's holdings in Public Service Enterprise Group were worth $7,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company's stock, valued at $4,610,217.94. This represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock worth $2,381,626 in the last 90 days. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank increased 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. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 5th. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Finally, UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 0.7 %

Shares of NYSE PEG traded up $0.66 during mid-day trading on Tuesday, reaching $90.09. The company had a trading volume of 2,313,817 shares, compared to its average volume of 2,776,120. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The stock has a market cap of $44.89 billion, a P/E ratio of 22.01, a PEG ratio of 3.27 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $87.68 and a two-hundred day simple moving average of $80.17.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.66%. Public Service Enterprise Group's payout ratio is 58.97%.

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.