Bryn Mawr Capital Management LLC Has $2.14 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bryn Mawr Capital Management LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,371 shares of the utilities provider’s stock after selling 263 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Public Service Enterprise Group were worth $2,144,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 145,903 shares of the utilities provider’s stock worth $12,327,000 after acquiring an additional 8,751 shares in the last quarter. Amalgamated Bank grew its stake in shares of Public Service Enterprise Group by 1.2% during the 4th quarter. Amalgamated Bank now owns 102,144 shares of the utilities provider’s stock worth $8,630,000 after acquiring an additional 1,203 shares in the last quarter. FourThought Financial Partners LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $377,000. IFP Advisors Inc grew its stake in shares of Public Service Enterprise Group by 14.3% during the 4th quarter. IFP Advisors Inc now owns 17,341 shares of the utilities provider’s stock worth $1,465,000 after acquiring an additional 2,171 shares in the last quarter. Finally, RWC Asset Management LLP grew its stake in shares of Public Service Enterprise Group by 230.0% during the 4th quarter. RWC Asset Management LLP now owns 219,967 shares of the utilities provider’s stock worth $18,585,000 after acquiring an additional 153,318 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.92 on Thursday. The business’s 50 day simple moving average is $84.90 and its 200 day simple moving average is $86.03. Public Service Enterprise Group Incorporated has a one year low of $59.67 and a one year high of $95.22. The stock has a market capitalization of $41.31 billion, a PE ratio of 20.37, a PEG ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.04%. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group 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.