ING Groep NV Buys 791 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

ING Groep NV grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,343 shares of the utilities provider’s stock after buying an additional 791 shares during the quarter. ING Groep NV’s holdings in Public Service Enterprise Group were worth $2,068,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Boston Private Wealth LLC increased its position in Public Service Enterprise Group by 1.6% in the first quarter. Boston Private Wealth LLC now owns 10,346 shares of the utilities provider’s stock worth $623,000 after purchasing an additional 163 shares during the period. Orrstown Financial Services Inc. lifted its stake in Public Service Enterprise Group by 1.3% in the 1st quarter. Orrstown Financial Services Inc. now owns 13,206 shares of the utilities provider’s stock valued at $788,000 after acquiring an additional 173 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Public Service Enterprise Group by 3.8% during the 1st quarter. Capital Investment Advisors LLC now owns 5,006 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 185 shares during the last quarter. Copperwynd Financial LLC increased its position in shares of Public Service Enterprise Group by 2.4% during the 1st quarter. Copperwynd Financial LLC now owns 8,032 shares of the utilities provider’s stock worth $484,000 after purchasing an additional 186 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its position in shares of Public Service Enterprise Group by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 7,769 shares of the utilities provider’s stock worth $453,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 70.06% of the company’s stock.

Shares of PEG stock opened at $61.63 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.63 and a current ratio of 0.79. The business’s 50-day moving average price is $62.18. Public Service Enterprise Group Incorporated has a 12-month low of $46.70 and a 12-month high of $64.30. The company has a market capitalization of $31.15 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 5.04 and a beta of 0.54.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Public Service Enterprise Group’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 8th will be paid a $0.51 dividend. The ex-dividend date is Monday, June 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.31%. Public Service Enterprise Group’s payout ratio is currently 59.48%.

PEG has been the topic of a number of research reports. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $67.50 in a report on Thursday, April 29th. Barclays upped their target price on Public Service Enterprise Group from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. KeyCorp upped their price objective on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 14th. Morgan Stanley upped their target price on Public Service Enterprise Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, April 20th. Finally, Seaport Global Securities raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, May 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and an average price target of $66.55.

In related news, COO Ralph A. Larossa sold 4,890 shares of the company’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $63.87, for a total value of $312,324.30. Insiders sold a total of 15,464 shares of company stock worth $973,073 over the last ninety days. 0.52% of the stock is currently owned by insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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