Quadrant Capital Group LLC Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Quadrant Capital Group LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 9.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,169 shares of the utilities provider’s stock after buying an additional 266 shares during the period. Quadrant Capital Group LLC’s holdings in Public Service Enterprise Group were worth $222,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bromfield Sneider Wealth Advisors purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at about $27,000. Covestor Ltd purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $32,000. Elmwood Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $33,000. MCF Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at about $42,000. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $42,000. 70.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PEG. Barclays lowered their price target on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. TheStreet cut shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. Credit Suisse Group began coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price target for the company. Finally, Mizuho lowered their price target on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $68.10, for a total transaction of $673,032.30. Following the transaction, the chief executive officer now owns 457,539 shares in the company, valued at approximately $31,158,405.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $68.10, for a total value of $673,032.30. Following the sale, the chief executive officer now owns 457,539 shares in the company, valued at $31,158,405.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ralph A. Larossa sold 1,054 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.76, for a total transaction of $69,311.04. Following the completion of the sale, the chief operating officer now owns 61,259 shares in the company, valued at approximately $4,028,391.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,357 shares of company stock worth $2,133,525. 0.55% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.0 %

NYSE PEG opened at $64.74 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 1.23. The firm has a market cap of $32.32 billion, a PE ratio of -33.03, a price-to-earnings-growth ratio of 5.32 and a beta of 0.55. The company has a 50 day moving average price of $63.21 and a 200 day moving average price of $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 issued 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). Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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 paid a dividend of $0.54 per share. The ex-dividend date 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 payout ratio is -110.20%.

Public Service Enterprise Group Profile

(Get Rating)

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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