Seaport Res Ptn Has Bullish Estimate for PEG FY2027 Earnings

Key Points

• Seaport Res Ptn upgraded their FY2027 earnings estimate for Public Service Enterprise Group to $4.87 per share, marking a slight increase from their previous forecast of $4.86.
• Public Service Enterprise Group's stock recently traded down 1.4% to $85.57, with a 52-week range between $74.67 and $95.22.
• Public Service Enterprise Group declared a quarterly dividend of $0.63 per share, which equates to an annualized dividend of $2.52 and a yield of 2.9%.

Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) - Equities researchers at Seaport Res Ptn lifted their FY2027 earnings per share estimates for shares of Public Service Enterprise Group in a note issued to investors on Tuesday, August 12th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $4.87 per share for the year, up from their prior forecast of $4.86. The consensus estimate for Public Service Enterprise Group's current full-year earnings is $3.67 per share.

Other research analysts have also issued reports about the company. Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. UBS Group increased their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, BMO Capital Markets increased their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $90.95.

Public Service Enterprise Group Trading Down 1.4%

Shares of Public Service Enterprise Group stock traded down $1.23 during trading hours on Friday, reaching $85.57. 507,154 shares of the company's stock were exchanged, compared to its average volume of 2,867,696. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 3.05 and a beta of 0.45. The company has a fifty day moving average of $84.12 and a 200-day moving average of $82.26. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company earned $0.63 EPS. Public Service Enterprise Group's revenue was up 15.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PEG. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Transce3nd LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC grew its position in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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 Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 2.9%. Public Service Enterprise Group's payout ratio is 63.64%.

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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