Tompkins Financial Corp Decreases Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Tompkins Financial Corp reduced its stake in Public Service Enterprise Group (PEG) by 2.9% during Q2, owning 121,587 shares valued at $10.23 million after selling 3,581 shares.
• PEG reported a strong earnings performance for Q2 with an EPS of $0.77, exceeding expectations, and revenue of $2.81 billion, a 15.8% increase from the previous year.
• The company declared a quarterly dividend of $0.63 per share, representing an annualized yield of 3.1% and a payout ratio of 63.64%.

Tompkins Financial Corp decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,587 shares of the utilities provider's stock after selling 3,581 shares during the quarter. Tompkins Financial Corp's holdings in Public Service Enterprise Group were worth $10,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Centre Asset Management LLC lifted its stake in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares during the period. FourThought Financial Partners LLC raised its holdings in Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after purchasing an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares in the last quarter. Summit Financial LLC raised its holdings in Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after purchasing an additional 133 shares in the last quarter. Finally, Apella Capital LLC raised its holdings in Public Service Enterprise Group by 2.7% in the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

PEG traded up $0.38 on Friday, hitting $81.57. 4,629,404 shares of the company's stock traded hands, compared to its average volume of 2,572,023. The company's 50 day simple moving average is $84.39 and its 200-day simple moving average is $82.09. The firm has a market cap of $40.71 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.82 and a beta of 0.50. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is 63.64%.

Analysts Set New Price Targets

PEG has been the subject of a number of research reports. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays decreased their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. UBS Group increased their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reduced their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.55.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by company 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.