Bank of New York Mellon Corp Takes $221.63 Million Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Bank of New York Mellon purchased 2.73 million shares of Public Service Enterprise Group, valued at approximately $221.6 million, giving it a 0.55% stake. Institutional investors collectively own 73.34% of PEG.
• PEG’s latest quarterly earnings beat expectations, with EPS of $0.86 versus the $0.80 consensus, although revenue fell 8.9% year over year to $2.55 billion. The company maintained fiscal 2026 EPS guidance of $4.28–$4.40.
• Shares opened at $72.71, near their 12-month low, while analysts hold a consensus “Hold” rating with an average price target of $89.43. PEG also announced a quarterly dividend of $0.67, equivalent to a 3.7% annualized yield.

Bank of New York Mellon Corp bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,730,808 shares of the utilities provider's stock, valued at approximately $221,632,000. Bank of New York Mellon Corp owned about 0.55% of Public Service Enterprise Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Entropy Technologies LP increased its stake in shares of Public Service Enterprise Group by 115.6% during the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider's stock worth $1,985,000 after purchasing an additional 13,253 shares during the period. Kestra Advisory Services LLC boosted its stake in Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider's stock valued at $5,593,000 after purchasing an additional 14,406 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Public Service Enterprise Group by 120.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider's stock valued at $5,108,000 after buying an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC grew its holdings in Public Service Enterprise Group by 135.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider's stock valued at $1,756,000 after buying an additional 12,468 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in Public Service Enterprise Group by 38.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider's stock worth $156,305,000 after buying an additional 536,363 shares during the period. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Down 2.6%

Shares of NYSE:PEG opened at $72.71 on Friday. The business has a fifty day simple moving average of $78.72 and a 200 day simple moving average of $80.37. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The firm has a market cap of $36.24 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12-month low of $72.60 and a 12-month high of $87.63.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group's revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 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 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is 66.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PEG shares. Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Citigroup dropped their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group cut their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a report on Monday, July 20th. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Finally, Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and an average price target of $89.43.

About Public Service Enterprise Group

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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