Brandywine Global Investment Management LLC Buys 22,749 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Brandywine Global Investment Management LLC has increased its stake in Public Service Enterprise Group by 7.0%, owning approximately 347,442 shares worth $28.59 million at the end of the last quarter.
• Public Service Enterprise Group recently announced a quarterly dividend of $0.63 per share, with a yield of 3.0%, to be paid on September 30th.
• The company's earnings exceeded expectations with $0.77 EPS reported for the last quarter, and revenue grew by 15.8% year-over-year, reaching $2.81 billion.

Brandywine Global Investment Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,442 shares of the utilities provider's stock after buying an additional 22,749 shares during the quarter. Brandywine Global Investment Management LLC owned 0.07% of Public Service Enterprise Group worth $28,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $298,000. Exchange Traded Concepts LLC raised its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $329,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 1.0%

Public Service Enterprise Group stock traded up $0.86 during midday trading on Wednesday, reaching $85.45. The stock had a trading volume of 1,568,200 shares, compared to its average volume of 2,865,701. The firm's fifty day simple moving average is $84.42 and its 200-day simple moving average is $82.30. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The stock has a market capitalization of $42.65 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45. 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 (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $0.63 EPS. Public Service Enterprise Group's revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEG. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

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.