Q1 2022 EPS Estimates for Public Service Enterprise Group Incorporated Lifted by Analyst (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) – Equities research analysts at KeyCorp upped their Q1 2022 EPS estimates for shares of Public Service Enterprise Group in a note issued to investors on Tuesday, April 19th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.08 per share for the quarter, up from their previous estimate of $1.06. KeyCorp also issued estimates for Public Service Enterprise Group’s FY2023 earnings at $3.72 EPS, FY2024 earnings at $3.94 EPS, FY2025 earnings at $4.12 EPS and FY2026 earnings at $4.31 EPS.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Public Service Enterprise Group had a positive return on equity of 12.22% and a negative net margin of 6.67%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upgraded Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $71.00 to $73.00 in a research note on Friday, January 7th. Evercore ISI raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 25th. StockNews.com assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Mizuho increased their price objective on shares of Public Service Enterprise Group from $67.00 to $73.00 in a research report on Friday, January 7th. Finally, Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $72.91.

Public Service Enterprise Group stock opened at $74.67 on Friday. Public Service Enterprise Group has a 52 week low of $58.96 and a 52 week high of $75.61. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.78 and a current ratio of 0.88. The stock has a market capitalization of $37.49 billion, a P/E ratio of -57.88, a PEG ratio of 4.95 and a beta of 0.57. The stock has a 50-day simple moving average of $68.09 and a 200 day simple moving average of $65.57.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 2.89%. Public Service Enterprise Group’s dividend payout ratio is presently -167.44%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $64.47, for a total value of $315,258.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $70.44, for a total transaction of $696,158.52. Following the transaction, the chief executive officer now owns 474,153 shares of the company’s stock, valued at approximately $33,399,337.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,146 shares of company stock worth $2,029,395. Insiders own 0.55% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PEG. Everett Harris & Co. CA bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $279,000. Sfmg LLC boosted its stake in Public Service Enterprise Group by 21.8% in the 1st quarter. Sfmg LLC now owns 34,701 shares of the utilities provider’s stock worth $2,429,000 after purchasing an additional 6,205 shares in the last quarter. Empirical Finance LLC raised its position in Public Service Enterprise Group by 12.4% during the 1st quarter. Empirical Finance LLC now owns 9,739 shares of the utilities provider’s stock worth $682,000 after buying an additional 1,075 shares during the last quarter. Asset Dedication LLC raised its position in Public Service Enterprise Group by 343.1% during the 1st quarter. Asset Dedication LLC now owns 15,886 shares of the utilities provider’s stock worth $1,112,000 after buying an additional 12,301 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Public Service Enterprise Group by 21.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 134,549 shares of the utilities provider’s stock valued at $9,418,000 after purchasing an additional 23,706 shares in the last quarter. 70.69% of the stock is currently owned by institutional investors.

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

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