Brandywine Global Investment Management LLC Purchases 39,919 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Brandywine Global Investment Management increased its stake in Public Service Enterprise Group by 13% in the fourth quarter, buying 39,919 additional shares and bringing its total holding to 346,108 shares worth about $27.8 million.
• Public Service Enterprise Group recently reported stronger-than-expected quarterly results, with EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% year over year.
• Analysts remain cautiously positive on PEG, with a consensus rating of “Moderate Buy” and an average price target of $93.19, even as some firms trimmed ratings or price targets. The stock was trading near $77.79, close to its 12-month low.

Brandywine Global Investment Management LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 346,108 shares of the utilities provider's stock after acquiring an additional 39,919 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of Public Service Enterprise Group worth $27,792,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PEG. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. raised its stake in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after buying an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $44,000. TFC Financial Management Inc. raised its stake in shares of Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock worth $47,000 after buying an additional 570 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock worth $48,000 after buying an additional 121 shares during the period. Institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEG shares. Evercore raised Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. Jefferies Financial Group downgraded Public Service Enterprise Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and decreased their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Truist Financial decreased their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, May 18th. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.19.

Public Service Enterprise Group Stock Down 2.1%

Shares of PEG opened at $77.79 on Tuesday. The business's 50 day moving average is $79.74 and its 200 day moving average is $80.93. The company has a market capitalization of $38.77 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,249 shares of company stock worth $498,795. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group NYSE: PEG is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company's activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.

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