Seaport Res Ptn Issues Optimistic Forecast for PEG Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Stock analysts at Seaport Res Ptn upped their FY2027 earnings per share (EPS) estimates for Public Service Enterprise Group in a research report issued on Wednesday, December 11th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $5.07 per share for the year, up from their previous estimate of $4.95. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share. Seaport Res Ptn also issued estimates for Public Service Enterprise Group’s FY2028 earnings at $5.21 EPS.

PEG has been the topic of a number of other research reports. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Barclays dropped their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Trading Up 1.0 %

Shares of PEG stock opened at $86.81 on Monday. The business has a 50-day moving average of $89.21 and a 200 day moving average of $82.46. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group has a 1-year low of $56.85 and a 1-year high of $95.22. The stock has a market capitalization of $43.25 billion, a PE ratio of 21.33, a P/E/G ratio of 3.18 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Shore Management Inc. CT bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $71,298,000. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the period. Jennison Associates LLC increased its stake in Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock worth $134,006,000 after buying an additional 665,105 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock valued at $1,595,921 over the last ninety days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.