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

Public Service Enterprise Group Incorporated (NYSE:PEGGet 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:PEGGet 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

(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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Earnings History and Estimates for Public Service Enterprise Group (NYSE:PEG)

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