Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – Stock analysts at Zacks Research issued their Q1 2023 earnings per share (EPS) estimates for Public Service Enterprise Group in a research note issued on Wednesday, April 19th. Zacks Research analyst A. Dutta anticipates that the utilities provider will earn $1.18 per share for the quarter. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.45 per share. Zacks Research also issued estimates for Public Service Enterprise Group’s Q2 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.84 EPS, Q4 2023 earnings at $0.81 EPS, FY2023 earnings at $3.48 EPS, Q1 2024 earnings at $0.98 EPS, Q2 2024 earnings at $0.81 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.63 EPS, Q1 2025 earnings at $0.84 EPS and FY2025 earnings at $3.83 EPS.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company 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%. Public Service Enterprise Group’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share.
Several other analysts have also commented on the company. Mizuho decreased their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 13th. StockNews.com assumed coverage on Public Service Enterprise Group in a report on Thursday, March 16th. They set a “hold” rating for the company. BMO Capital Markets upped their target price on Public Service Enterprise Group from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 14th. Guggenheim cut their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Finally, LADENBURG THALM/SH SH assumed coverage on Public Service Enterprise Group in a research report on Monday, April 3rd. They issued a “neutral” rating and a $60.50 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus price target of $67.15.
Public Service Enterprise Group Stock Up 0.2 %
Public Service Enterprise Group stock opened at $64.09 on Monday. The business has a fifty day moving average of $60.87 and a two-hundred day moving average of $59.80. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20. The firm has a market cap of $31.97 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.29 and a beta of 0.56. Public Service Enterprise Group has a twelve month low of $52.51 and a twelve month high of $74.76.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, June 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.
Insider Activity
In related news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were 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 of the company’s stock, valued at approximately $373,557.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.57% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems lifted its stake in Public Service Enterprise Group by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 39,221 shares of the utilities provider’s stock valued at $2,403,000 after buying an additional 171 shares in the last quarter. Beech Hill Advisors Inc. lifted its stake in Public Service Enterprise Group by 1.3% in the 1st quarter. Beech Hill Advisors Inc. now owns 13,885 shares of the utilities provider’s stock worth $867,000 after purchasing an additional 180 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in Public Service Enterprise Group by 1.0% in the 3rd quarter. Schechter Investment Advisors LLC now owns 18,359 shares of the utilities provider’s stock worth $1,032,000 after purchasing an additional 188 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Public Service Enterprise Group by 3.0% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,653 shares of the utilities provider’s stock worth $374,000 after purchasing an additional 193 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its stake in Public Service Enterprise Group by 1.5% in the 1st quarter. Moody National Bank Trust Division now owns 13,455 shares of the utilities provider’s stock worth $840,000 after purchasing an additional 193 shares in the last quarter. 70.67% of the stock is owned by hedge funds and other institutional investors.
About Public Service Enterprise Group
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.
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