Research Analysts Set Expectations for Public Service Enterprise Group Incorporated’s Q1 2022 Earnings (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – Equities research analysts at Seaport Res Ptn issued their Q1 2022 earnings per share (EPS) estimates for shares of Public Service Enterprise Group in a note issued to investors on Tuesday, April 19th. Seaport Res Ptn analyst A. Storozynski anticipates that the utilities provider will post earnings per share of $1.12 for the quarter. Seaport Res Ptn also issued estimates for Public Service Enterprise Group’s Q2 2022 earnings at $0.68 EPS, Q3 2022 earnings at $0.96 EPS and Q4 2022 earnings at $0.70 EPS.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $71.00 to $73.00 in a research note on Friday, January 7th. Morgan Stanley upped their target price on Public Service Enterprise Group from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. StockNews.com initiated coverage on Public Service Enterprise Group in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus price target of $72.91.

Shares of NYSE PEG opened at $74.67 on Friday. The business’s 50 day moving average is $68.09 and its two-hundred day moving average is $65.57. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.88 and a quick ratio of 0.78. Public Service Enterprise Group has a 1-year low of $58.96 and a 1-year high of $75.61. 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.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.69 earnings per share 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 company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis.

The company also recently disclosed 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 annualized dividend and a yield of 2.89%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently -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 on Tuesday, February 1st. The stock was sold at an average price of $66.17, for a total transaction of $323,571.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $66.15, for a total value of $653,760.45. The disclosure for this sale can be found here. In the last three months, insiders sold 30,146 shares of company stock worth $2,029,395. 0.55% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $26,000. Bromfield Sneider Wealth Advisors purchased a new position in Public Service Enterprise Group in the 1st quarter worth $27,000. TAP Consulting LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth $28,000. Tower View Investment Management & Research LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth $30,000. Finally, First Community Trust NA purchased a new position in Public Service Enterprise Group in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.

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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