Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Brandywine Oak Private Wealth LLC

Key Points

• Brandywine Oak Private Wealth LLC reduced its stake in Public Service Enterprise Group by 40.6%, now holding 6,400 shares valued at approximately $527,000.
• Analysts have mixed perspectives on the stock, with Guggenheim lowering its price target from $98.00 to $94.00 while UBS increased theirs from $97.00 to $103.00.
• The company recently announced a quarterly dividend of $0.63, translating to an annual yield of 2.87%, with a payout ratio of 68.85%.

Brandywine Oak Private Wealth LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 40.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,400 shares of the utilities provider's stock after selling 4,381 shares during the period. Brandywine Oak Private Wealth LLC's holdings in Public Service Enterprise Group were worth $527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Public Service Enterprise Group by 6.2% in 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 bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $298,000. Exchange Traded Concepts LLC raised its holdings in shares of Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after buying an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after buying an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in Public Service Enterprise Group during the 1st quarter worth $329,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.56 during trading hours on Monday, reaching $87.02. The stock had a trading volume of 1,866,004 shares, compared to its average volume of 2,318,761. The firm has a 50-day moving average of $81.79 and a 200-day moving average of $82.08. The firm has a market cap of $43.42 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 3.14 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.90%. Public Service Enterprise Group's payout ratio is 68.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEG. UBS Group lifted their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday. Barclays decreased their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley decreased 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 note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $90.50.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

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.