Brandywine Oak Private Wealth LLC Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brandywine Oak Private Wealth LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,781 shares of the utilities provider’s stock after selling 894 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Public Service Enterprise Group were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in shares of Public Service Enterprise Group by 16.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,057 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 289 shares in the last quarter. Brighton Jones LLC grew its position in shares of Public Service Enterprise Group by 25.9% in the fourth quarter. Brighton Jones LLC now owns 9,892 shares of the utilities provider’s stock valued at $605,000 after purchasing an additional 2,034 shares in the last quarter. Mission Wealth Management LP grew its position in shares of Public Service Enterprise Group by 38.1% in the fourth quarter. Mission Wealth Management LP now owns 14,414 shares of the utilities provider’s stock valued at $881,000 after purchasing an additional 3,973 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Public Service Enterprise Group by 23.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 47,541 shares of the utilities provider’s stock valued at $2,907,000 after purchasing an additional 9,080 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Public Service Enterprise Group by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 283,685 shares of the utilities provider’s stock valued at $17,347,000 after purchasing an additional 13,312 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $511,814 in the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PEG shares. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Barclays raised their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Finally, Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Stock Down 0.1 %

Public Service Enterprise Group stock traded down $0.05 during midday trading on Wednesday, reaching $69.03. The company’s stock had a trading volume of 835,183 shares, compared to its average volume of 2,842,941. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $69.79. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The company has a market cap of $34.42 billion, a P/E ratio of 13.44, a P/E/G ratio of 3.00 and a beta of 0.58. The business has a 50-day simple moving average of $65.00 and a 200-day simple moving average of $62.43.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 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 Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

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.