Quarry LP Buys Shares of 6,821 Public Service Enterprise Group Incorporated (NYSE:PEG)

Quarry LP bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,821 shares of the utilities provider's stock, valued at approximately $609,000.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC lifted its holdings in Public Service Enterprise Group by 66.0% during the 1st quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider's stock valued at $1,577,000 after purchasing an additional 9,388 shares during the last quarter. Mather Group LLC. increased its holdings in Public Service Enterprise Group by 115.5% during the 2nd quarter. Mather Group LLC. now owns 4,553 shares of the utilities provider's stock valued at $336,000 after purchasing an additional 2,440 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $461,000. CWM LLC boosted its stake in Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider's stock worth $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $204,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.2 %

PEG traded down $0.14 during trading on Thursday, reaching $91.66. 1,101,929 shares of the stock were exchanged, compared to its average volume of 2,750,830. The stock has a market cap of $45.67 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 3.34 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock's 50 day moving average price is $89.53 and its two-hundred day moving average price is $81.75. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the firm earned $0.85 EPS. Public Service Enterprise Group's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's payout ratio is presently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares of the company's stock, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,361 shares of company stock valued at $2,356,562 in the last quarter. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PEG. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a "hold" rating and a $85.00 price objective on the stock. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, October 21st. Barclays lowered their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.08.

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.