Scotiabank Has Positive Outlook for PEG FY2025 Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Research analysts at Scotiabank boosted their FY2025 earnings per share estimates for shares of Public Service Enterprise Group in a report issued on Friday, January 23rd. Scotiabank analyst A. Weisel now forecasts that the utilities provider will post earnings per share of $4.04 for the year, up from their previous forecast of $4.02. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Wells Fargo & Company upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $88.00 to $92.00 in a research note on Tuesday, January 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Finally, UBS Group lowered their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Stock Down 1.4%

Public Service Enterprise Group stock opened at $78.28 on Monday. The firm has a 50 day moving average price of $80.21 and a 200-day moving average price of $82.32. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a market capitalization of $39.07 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.54 and a beta of 0.60.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $564,238,000. Bank of America Corp DE raised its position in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Invesco Ltd. raised its position in Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after purchasing an additional 1,408,707 shares in the last quarter. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after purchasing an additional 1,199,371 shares during the last quarter. Finally, Railway Pension Investments Ltd boosted its holdings in shares of Public Service Enterprise Group by 97.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after purchasing an additional 937,100 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.