Bank of New York Mellon Corp Reduces Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Bank of New York Mellon trimmed its Public Service Enterprise Group stake by 1.9% in the fourth quarter, though it still held about 2.85 million shares valued at roughly $228.9 million.
• PEG beat quarterly expectations, posting EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion versus $3.35 billion expected; the company also reaffirmed FY 2026 EPS guidance of 4.28 to 4.40.
• The utility declared a quarterly dividend of $0.67 per share, implying an annualized yield of about 3.4%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $93.19.

Bank of New York Mellon Corp cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,849,938 shares of the utilities provider's stock after selling 56,416 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Public Service Enterprise Group worth $228,850,000 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. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 248 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $44,000. TFC Financial Management Inc. lifted its holdings in Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 570 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 121 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $79.48 on Friday. The stock's 50-day moving average is $79.80 and its two-hundred day moving average is $80.97. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.94 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is 59.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEG. JPMorgan Chase & Co. upped their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Barclays upped their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Evercore upgraded Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Finally, Truist Financial decreased their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock worth $498,795 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group NYSE: PEG is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company's activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.

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