Equities Analysts Offer Predictions for PEG FY2029 Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) - Investment analysts at Seaport Res Ptn issued their FY2029 earnings estimates for Public Service Enterprise Group in a report released on Tuesday, June 3rd. Seaport Res Ptn analyst A. Storozynski forecasts that the utilities provider will post earnings of $5.89 per share for the year. The consensus estimate for Public Service Enterprise Group's current full-year earnings is $3.67 per share.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS.

A number of other research analysts also recently commented on PEG. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $89.63.

Public Service Enterprise Group Price Performance

PEG opened at $79.79 on Friday. Public Service Enterprise Group has a twelve month low of $71.89 and a twelve month high of $95.22. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.78 and a beta of 0.48. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $80.26 and a 200 day simple moving average of $83.48.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after acquiring an additional 2,986,646 shares in the last quarter. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Public Service Enterprise Group by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after buying an additional 162,261 shares during the last quarter. Invesco Ltd. lifted its position in Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after buying an additional 604,978 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after buying an additional 335,135 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. Public Service Enterprise Group's dividend payout ratio is 68.85%.

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.

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