Public Service Enterprise Group - PEG Stock Forecast, Price & News

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs. As of December 31, 2021, it had electric transmission and distribution system of 25,000 circuit miles and 862,000 poles; 56 switching stations with an installed capacity of 39,353 megavolt-amperes (MVA), and 235 substations with an installed capacity of 9,285 MVA; four electric distribution headquarters and five electric sub-headquarters; and 18,000 miles of gas mains, 12 gas distribution headquarters, two sub-headquarters, and one meter shop, as well as 58 natural gas metering and regulating stations. Public Service Enterprise Group Incorporated was incorporated in 1985 and is based in Newark, New Jersey.

Public Service Enterprise Group Stock Performance

PEG traded up $0.92 during trading on Friday, reaching $67.61. 2,537,166 shares of the company's stock were exchanged, compared to its average volume of 2,582,381. Public Service Enterprise Group has a 1 year low of $58.19 and a 1 year high of $75.61. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market capitalization of $33.73 billion, a P/E ratio of -34.49, a price-to-earnings-growth ratio of 6.15 and a beta of 0.55. The company's fifty day simple moving average is $63.00 and its 200-day simple moving average is $66.39.

Public Service Enterprise Group (NYSE:PEG - Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter last year, the company earned $0.70 earnings per share. Public Service Enterprise Group's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group will post 3.48 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group's payout ratio is -110.20%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Monday, May 23rd. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Wednesday, August 3rd. Credit Suisse Group lifted their price objective on Public Service Enterprise Group to $69.00 in a research note on Tuesday. StockNews.com lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, TheStreet downgraded shares of Public Service Enterprise Group from a "b" rating to a "c" rating in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.73.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $65.75, for a total transaction of $69,300.50. Following the transaction, the chief operating officer now directly owns 62,313 shares of the company's stock, valued at $4,097,079.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of the firm's stock in a transaction on Friday, July 29th. The stock was sold at an average price of $65.75, for a total transaction of $69,300.50. Following the completion of the sale, the chief operating officer now owns 62,313 shares of the company's stock, valued at $4,097,079.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the company's stock in a transaction on Friday, July 1st. The shares were sold at an average price of $64.15, for a total value of $633,994.45. Following the completion of the transaction, the chief executive officer now directly owns 447,656 shares in the company, valued at approximately $28,717,132.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,357 shares of company stock valued at $2,133,525. 0.55% of the stock is owned by company insiders.