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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its position in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after buying an additional 18,627 shares during the last quarter. DRW Securities LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at $8,244,000. Cullen Investment Group LTD. raised its position in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $2,565,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PEG shares. UBS Group upped their price objective on 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. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Public Service Enterprise Group Stock Down 0.4 %

PEG stock opened at $82.92 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.67 and a fifty-two week high of $95.22. The stock has a fifty day moving average of $84.90 and a 200-day moving average of $86.03.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by 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.