Q3 2022 EPS Estimates for Public Service Enterprise Group Incorporated Increased by Analyst (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – Stock analysts at KeyCorp boosted their Q3 2022 EPS estimates for shares of Public Service Enterprise Group in a research note issued on Thursday, August 4th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $0.85 for the quarter, up from their prior estimate of $0.84. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.47 per share.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year.

A number of other research analysts have also weighed in on the stock. Credit Suisse Group started coverage on shares of Public Service Enterprise Group in a research note on Monday, April 25th. They issued a “neutral” rating and a $76.00 target price on the stock. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Mizuho cut their price target on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. StockNews.com downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TheStreet downgraded shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $70.36.

Public Service Enterprise Group Trading Up 0.0 %

PEG opened at $64.74 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.79. The company’s 50 day simple moving average is $63.21 and its two-hundred day simple moving average is $66.34. Public Service Enterprise Group has a 1-year low of $58.19 and a 1-year high of $75.61. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of -33.03, a price-to-earnings-growth ratio of 5.32 and a beta of 0.55.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 annualized dividend and a yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -110.20%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.58, for a total value of $648,127.14. Following the completion of the transaction, the chief executive officer now owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the transaction, the chief operating officer now owns 61,259 shares of the company’s stock, valued at approximately $4,028,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.58, for a total transaction of $648,127.14. Following the completion of the transaction, the chief executive officer now directly owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,357 shares of company stock worth $2,133,525. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently modified their holdings of the company. Bromfield Sneider Wealth Advisors purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $27,000. Tcwp LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $28,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Public Service Enterprise Group in the second quarter valued at $30,000. Covestor Ltd purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $32,000. Finally, Elmwood Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $33,000. 70.82% of the stock is owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

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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.