Brandywine Global Investment Management LLC Lowers Holdings in Public Service Enterprise Group Incorporated $PEG

Brandywine Global Investment Management LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,689 shares of the utilities provider’s stock after selling 41,753 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Public Service Enterprise Group worth $25,733,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PEG. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the second quarter valued at $27,000. GoalVest Advisory LLC increased its stake in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $32,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $33,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $81.25 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a fifty day moving average of $82.19 and a 200-day moving average of $82.46. The stock has a market capitalization of $40.56 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PEG shares. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Evercore ISI started coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Company 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.