Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – Research analysts at KeyCorp decreased their FY2023 EPS estimates for shares of Public Service Enterprise Group in a research note issued on Monday, January 16th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $3.45 for the year, down from their prior estimate of $3.64. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.44 per share.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings results on Monday, October 31st. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $1.98 billion. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. Public Service Enterprise Group’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS.
Public Service Enterprise Group Stock Performance
PEG stock opened at $60.02 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60. The stock has a market cap of $29.95 billion, a P/E ratio of 44.13, a P/E/G ratio of 5.47 and a beta of 0.56. The firm has a 50 day simple moving average of $60.39 and a 200 day simple moving average of $61.35. Public Service Enterprise Group has a 52 week low of $52.51 and a 52 week high of $75.61.
Hedge Funds Weigh In On Public Service Enterprise Group
A number of institutional investors have recently added to or reduced their stakes in the business. Destiny Wealth Partners LLC increased its position in shares of 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 valued at $25,000 after purchasing an additional 341 shares during the last quarter. Boyd Watterson Asset Management LLC OH purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $27,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Public Service Enterprise Group during the second quarter valued at $30,000. Romano Brothers AND Company bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $30,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $33,000. 70.67% of the stock is currently owned by institutional investors.
Public Service Enterprise Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, December 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.60%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 158.82%.
Public Service Enterprise Group Company Profile
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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