Quadrant Capital Group LLC Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Quadrant Capital Group LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,169 shares of the utilities provider’s stock after purchasing an additional 266 shares during the quarter. Quadrant Capital Group LLC’s holdings in Public Service Enterprise Group were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empirical Finance LLC boosted its stake in shares of Public Service Enterprise Group by 12.4% during the 1st quarter. Empirical Finance LLC now owns 9,739 shares of the utilities provider’s stock worth $682,000 after acquiring an additional 1,075 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Public Service Enterprise Group by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 86,445 shares of the utilities provider’s stock worth $5,768,000 after acquiring an additional 1,499 shares during the last quarter. Allegheny Financial Group LTD purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $57,000. Cadence Bank NA boosted its stake in shares of Public Service Enterprise Group by 1.7% during the 1st quarter. Cadence Bank NA now owns 36,070 shares of the utilities provider’s stock worth $2,525,000 after acquiring an additional 620 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Public Service Enterprise Group by 67.6% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 771 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 70.82% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Ralph A. Larossa sold 1,054 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $65.75, for a total value of $69,300.50. Following the sale, the chief operating officer now directly owns 62,313 shares in the company, valued at approximately $4,097,079.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Ralph A. Larossa sold 1,054 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $65.75, for a total value of $69,300.50. Following the sale, the chief operating officer now directly owns 62,313 shares in the company, valued at approximately $4,097,079.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $65.58, for a total transaction of $648,127.14. Following the completion of the sale, the chief executive officer now owns 441,613 shares in the company, valued at $28,960,980.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,357 shares of company stock worth $2,133,525. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $64.74 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.79 and a current ratio of 0.78. The company has a market cap of $32.32 billion, a P/E ratio of -33.03, a P/E/G ratio of 5.32 and a beta of 0.55. The firm’s fifty day moving average is $63.21 and its two-hundred day moving average is $66.34. Public Service Enterprise Group Incorporated has a 52-week low of $58.19 and a 52-week high of $75.61.

Public Service Enterprise Group (NYSE:PEGGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio is currently -110.20%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PEG shares. Barclays dropped their price target on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday. TheStreet downgraded shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. Finally, Credit Suisse Group started coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.

About Public Service Enterprise Group

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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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