Brokers Offer Predictions for Public Service Enterprise Group Incorporated’s FY2024 Earnings (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) – Investment analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of Public Service Enterprise Group in a research note issued to investors on Thursday, June 13th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $3.68 per share for the year, up from their prior estimate of $3.67. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.68 per share. Seaport Res Ptn also issued estimates for Public Service Enterprise Group’s FY2028 earnings at $5.28 EPS.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share.

PEG has been the subject of a number of other reports. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Bank of America increased their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Scotiabank decreased their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $72.64 on Friday. The company has a market capitalization of $36.18 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 3.04 and a beta of 0.59. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $75.82. The stock has a fifty day simple moving average of $71.17 and a 200 day simple moving average of $65.05. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.30%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 3,148 shares of company stock valued at $212,750 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its stake in shares of Public Service Enterprise Group by 29.9% during the 3rd quarter. D.A. Davidson & CO. now owns 6,046 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 1,391 shares during the last quarter. Blair William & Co. IL grew its stake in Public Service Enterprise Group by 32.7% in the 3rd quarter. Blair William & Co. IL now owns 11,955 shares of the utilities provider’s stock valued at $680,000 after buying an additional 2,945 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Public Service Enterprise Group by 7.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,291 shares of the utilities provider’s stock valued at $244,000 after buying an additional 284 shares in the last quarter. Rhumbline Advisers grew its position in shares of Public Service Enterprise Group by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 970,793 shares of the utilities provider’s stock valued at $55,248,000 after purchasing an additional 18,256 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $46,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.