Seaport Res Ptn Issues Optimistic Forecast for PEG Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Equities researchers at Seaport Res Ptn raised their FY2025 earnings per share estimates for Public Service Enterprise Group in a note issued to investors on Thursday, July 17th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $4.01 per share for the year, up from their previous forecast of $4.00. 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 $5.39 EPS.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 EPS.

Several other equities analysts have also commented on the company. Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. UBS Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $97.00 in a report on Monday, July 7th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $89.86.

Public Service Enterprise Group Trading Up 1.9%

Shares of PEG opened at $84.31 on Monday. Public Service Enterprise Group has a fifty-two week low of $73.83 and a fifty-two week high of $95.22. The stock has a fifty day moving average of $80.98 and a two-hundred day moving average of $82.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $42.07 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its position in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $32,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 2.99%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.