Public Service Enterprise Group Incorporated $PEG Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its stake in Public Service Enterprise Group by 6.5% in the first quarter, though it still held more than 1.05 million shares valued at about $85.1 million. Institutional ownership remains high overall at 73.34%.
• Public Service Enterprise Group reported strong quarterly results, with EPS of $1.55 beating estimates and revenue of $3.85 billion topping expectations. The company also raised attention with FY 2026 guidance of 4.280-4.400 EPS.
• The company paid a quarterly dividend of $0.67 per share, equal to an annualized yield of 3.3%. Meanwhile, insider selling continued, including sales by CEO Ralph A. Larossa and COO Kim C. Hanemann under pre-arranged trading plans.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,603 shares of the utilities provider's stock after selling 73,667 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Public Service Enterprise Group worth $85,127,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after acquiring an additional 248 shares in the last quarter. Bayban acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at $33,000. Motiv8 Investments LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter worth about $44,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.39 during midday trading on Friday, hitting $80.56. The company's stock had a trading volume of 3,542,301 shares, compared to its average volume of 2,809,412. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock's 50 day simple moving average is $79.54 and its 200 day simple moving average is $80.92. The stock has a market capitalization of $40.15 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.02 and a beta of 0.51. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group's payout ratio is 59.29%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings cut Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Truist Financial reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.32.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,284 shares of company stock valued at $746,145 over the last three months. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group 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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