M&T Bank Corp Cuts Position in Public Service Enterprise Group Incorporated $PEG

M&T Bank Corp cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 34.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,768 shares of the utilities provider’s stock after selling 9,947 shares during the quarter. M&T Bank Corp’s holdings in Public Service Enterprise Group were worth $1,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth $25,000. Cedar Mountain Advisors LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in Public Service Enterprise Group during the 3rd quarter worth $38,000. CGC Financial Services LLC grew its stake in Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after buying an additional 258 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Public Service Enterprise Group during the 3rd quarter worth $43,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEG shares. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Thursday, March 5th. Truist Financial started coverage on Public Service Enterprise Group in a research note on Tuesday, April 21st. They set a “hold” rating and a $91.00 target price on the stock. Scotiabank restated a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.25.

Public Service Enterprise Group Stock Down 1.3%

Public Service Enterprise Group stock opened at $79.59 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The business’s 50-day simple moving average is $82.44 and its two-hundred day simple moving average is $81.70. The company has a market cap of $39.69 billion, a PE ratio of 18.86, a PEG ratio of 3.02 and a beta of 0.58. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.00 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 63.51%.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total value of $169,222.92. Following the completion of the transaction, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. This trade represents a 0.71% 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. In the last quarter, insiders have sold 8,866 shares of company stock worth $733,587. Company insiders own 0.19% of the company’s stock.

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.