Huntington National Bank Has $3.05 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Huntington National Bank increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,123 shares of the utilities provider’s stock after acquiring an additional 3,670 shares during the quarter. Huntington National Bank’s holdings in Public Service Enterprise Group were worth $3,052,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PEG. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $39,000. Nemes Rush Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $53,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Finally, Millstone Evans Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $83.85 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.80 billion, a PE ratio of 20.60, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a 50 day moving average of $82.68 and a 200-day moving average of $86.10. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analysts Set New Price Targets

Several research firms have recently commented on PEG. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group 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.