Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Huntington National Bank

Huntington National Bank raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,123 shares of the utilities provider's stock after purchasing an additional 3,670 shares during the period. Huntington National Bank's holdings in Public Service Enterprise Group were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Private Portfolio Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 9.2% in the 4th quarter. Private Portfolio Partners LLC now owns 3,027 shares of the utilities provider's stock worth $256,000 after acquiring an additional 254 shares during the last quarter. Groupama Asset Managment bought a new position in Public Service Enterprise Group in the 4th quarter valued at $1,648,000. Trexquant Investment LP purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $9,085,000. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares during the period. Finally, Nemes Rush Group LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $53,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $2.29 during trading hours on Tuesday, hitting $79.42. 1,225,786 shares of the company's stock were exchanged, compared to its average volume of 2,691,138. The firm has a 50 day moving average of $82.24 and a two-hundred day moving average of $85.99. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The firm has a market cap of $39.59 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.78 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.54 earnings per share. The company's revenue was down 5.4% compared to the same quarter last year. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. 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 dividend payout ratio is 71.19%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEG shares. StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Guggenheim reiterated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.65.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.