Public Service Enterprise Group Incorporated (NYSE:PEG) Short Interest Update

Posted by on Jun 17th, 2022

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 6,260,000 shares, a decrease of 14.4% from the May 15th total of 7,310,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is presently 2.2 days.

Shares of PEG traded down $0.45 during mid-day trading on Friday, reaching $58.55. 89,727 shares of the company’s stock were exchanged, compared to its average volume of 2,457,354. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group has a 52-week low of $58.35 and a 52-week high of $75.61. The company has a 50-day simple moving average of $68.97 and a two-hundred day simple moving average of $67.04.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s revenue was down 19.9% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group will post 3.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.69%. Public Service Enterprise Group’s payout ratio is presently -84.05%.

In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total value of $673,032.30. Following the sale, the chief executive officer now directly owns 457,539 shares in the company, valued at $31,158,405.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 30,249 shares of company stock worth $2,092,304 over the last 90 days. 0.55% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $27,000. Tcwp LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth $28,000. TAP Consulting LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $28,000. First Community Trust NA bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $31,000. Finally, Covestor Ltd bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $32,000. Institutional investors and hedge funds own 70.82% of the company’s stock.

A number of equities analysts recently issued reports on PEG shares. Morgan Stanley lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. TheStreet lowered Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Monday, May 9th. Credit Suisse Group assumed coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Buy” and an average target price of $73.09.

Public Service Enterprise Group Company Profile (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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