FY2024 EPS Estimates for Public Service Enterprise Group Incorporated Boosted by Analyst (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – Analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Public Service Enterprise Group in a research report issued on Tuesday, March 14th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $3.72 per share for the year, up from their prior forecast of $3.68. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.43 per share.

Several other research analysts also recently issued reports on PEG. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday. Guggenheim cut their price target on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Morgan Stanley cut their price target on Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. Mizuho cut their price target on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Finally, StockNews.com assumed coverage on Public Service Enterprise Group in a research note on Thursday. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.20.

Public Service Enterprise Group Stock Up 1.0 %

NYSE:PEG opened at $59.18 on Thursday. The stock’s fifty day moving average price is $60.82 and its two-hundred day moving average price is $60.23. Public Service Enterprise Group has a 52-week low of $52.51 and a 52-week high of $75.61. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.64. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 7.05 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the company. Destiny Wealth Partners LLC increased its holdings in Public Service Enterprise Group by 304.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 341 shares in the last quarter. Concord Wealth Partners bought a new position in Public Service Enterprise Group during the 4th quarter worth about $25,000. Boyd Watterson Asset Management LLC OH bought a new position in Public Service Enterprise Group during the 4th quarter worth about $27,000. Romano Brothers AND Company bought a new position in Public Service Enterprise Group during the 4th quarter worth about $30,000. Finally, ICA Group Wealth Management LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth about $31,000. Institutional investors own 70.67% of the company’s stock.

Insider Buying and Selling

In related news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the sale, the chief operating officer now owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by company insiders.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, March 9th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.

Public Service Enterprise Group Company Profile

(Get Rating)

Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.