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 raised their FY2024 earnings per share (EPS) estimates for shares of Public Service Enterprise Group in a research note issued to investors on Tuesday, March 14th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $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.

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

Other analysts also recently issued research reports about the company. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday. StockNews.com began coverage on Public Service Enterprise Group in a research note on Thursday. They set a “hold” rating on the stock. TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Guggenheim dropped their price objective 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. Finally, Wolfe Research downgraded Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.20.

Public Service Enterprise Group Stock Up 1.0 %

Shares of Public Service Enterprise Group stock opened at $59.18 on Thursday. The business’s fifty day moving average price is $60.82 and its two-hundred day moving average price is $60.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50. The company has a market capitalization of $29.52 billion, a P/E ratio of 28.73, a PEG ratio of 7.05 and a beta of 0.55. Public Service Enterprise Group has a 1-year low of $52.51 and a 1-year high of $75.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its holdings in shares of Public Service Enterprise Group by 19.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,692 shares of the utilities provider’s stock valued at $1,819,000 after buying an additional 4,864 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 166,314 shares of the utilities provider’s stock valued at $10,190,000 after buying an additional 1,240 shares in the last quarter. Great Lakes Retirement Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $1,583,000. Voya Investment Management LLC grew its holdings in shares of Public Service Enterprise Group by 431.4% during the fourth quarter. Voya Investment Management LLC now owns 928,733 shares of the utilities provider’s stock valued at $56,903,000 after buying an additional 753,950 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in Public Service Enterprise Group by 81.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 11,850 shares of the utilities provider’s stock valued at $350,000 after purchasing an additional 5,306 shares in the last quarter. Hedge funds and other 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 Public Service Enterprise Group stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the transaction, the chief operating officer now directly owns 6,482 shares in the company, valued at approximately $373,557.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Increases Dividend

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

Public Service Enterprise Group Company Profile

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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.