Public Service Enterprise Group Incorporated (NYSE:PEG) – Seaport Res Ptn raised its fiscal 2022 earnings per share estimate for Public Service Enterprise Group in a note to investors on Thursday, January 13. Seaport Res Ptn analyst A. Storozynski now expects the utility provider to post earnings per share of $3.47 for the year, up from its previous estimate of $3.46. Public Service Enterprise Group (NYSE:PEG) last announced its results on Tuesday, November 2. The utility provider reported EPS of $0.98 for the quarter, beating consensus analyst estimates of $0.92 by $0.06. The company posted revenue of $1.90 billion in the quarter, versus a consensus estimate of $2.66 billion. The public service group of companies had a positive return on equity of 11.77% and a negative net margin of 7.30%. In the same quarter of the previous year, the company had earned earnings per share of $0.96.
A number of other research companies have also recently published reports on PEG. Morgan Stanley raised its price target on shares of Public Service Enterprise Group from $75.00 to $79.00 and gave the stock an “overweight” rating in a Tuesday, Dec. 21 research note. Vertical Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised its price target for the company from $67.00 to $69.00 in a Wednesday research report September 29. Wells Fargo & Company cut its price target on Public Service Enterprise Group from $75.00 to $73.00 and set an “overweight” rating for the company in a Tuesday, September 28 report. KeyCorp raised its price target on Public Service Enterprise Group from $68.00 to $69.00 and gave the company an “overweight” rating in a Tuesday, October 19 research report. Finally, Barclays raised its price target on shares of Public Service Enterprise Group from $67.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 6. . Two analysts rated the stock with a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $70.70.
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NYSE: PEG opened at $66.30 on Friday. The company has a 50-day moving average price of $64.35 and a 200-day moving average price of $63.02. The stock has a market capitalization of $33.52 billion, a price/earnings ratio of -50.23, a P/E/G ratio of 5.34 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt ratio of 1.03. Public Service Enterprise Group has a 12 month minimum of $53.77 and a 12 month maximum of $67.62.
A number of hedge funds have recently changed their positions in the business. Moors & Cabot Inc. acquired a new stake in Public Service Enterprise Group during Q3 for a value of approximately $26,000. Total Clarity Wealth Management Inc. bought a new position in Public Service Enterprise Group stock during Q3 for $30,000. Tower View Investment Management & Research LLC bought a new position in Public Service Enterprise Group in Q3 worth $30,000. Koshinski Asset Management Inc. acquired a new stake in Public Service Enterprise Group in Q3 worth $34,000. Finally, Beacon Capital Management Inc. acquired a new stake in Public Service Enterprise Group during the third quarter valued at approximately $37,000. 70.39% of the shares are held by institutional investors and hedge funds.
In other Public Service Enterprise Group news, Vice President Rose M. Chernick sold 400 shares of the company in a trade dated Wednesday, Nov. 17. The stock was sold at an average price of $62.65, for a total value of $25,060.00. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, CEO Ralph Izzo sold 9,883 shares of the company in a trade dated Wednesday, December 1. The shares were sold at an average price of $63.19, for a total transaction of $624,506.77. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 35,436 shares of the company valued at $2,281,770. 0.52% of the shares are held by insiders of the company.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31. Shareholders of record on Thursday, December 9 received a dividend of $0.51 per share. The ex-dividend date was Wednesday, December 8. This represents a dividend of $2.04 on an annualized basis and a yield of 3.08%. The Public Service Enterprise Group’s dividend payout ratio is currently -154.55%.
About the Public Service Enterprise Group
Public Service Enterprise Group, Inc. is a holding company that provides electric and gas services. The Company operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment is engaged in the transmission of electricity and the distribution of electricity and natural gas.
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