Quarry LP Has $121,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Quarry LP cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 79.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,428 shares of the utilities provider’s stock after selling 5,393 shares during the period. Quarry LP’s holdings in Public Service Enterprise Group were worth $121,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $39,000. Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $53,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $54,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEG shares. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley upped 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 research report on Thursday, March 20th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $89.35.

Public Service Enterprise Group Trading Up 0.9 %

NYSE PEG opened at $81.62 on Wednesday. The company has a market cap of $40.69 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 52 week low of $66.57 and a 52 week high of $95.22. The business has a 50 day moving average price of $81.46 and a 200-day moving average price of $85.08. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Public Service Enterprise Group Profile

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.