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 Price Performance

Public Service Enterprise Group stock traded down $0.05 during midday trading on Wednesday, hitting $68.74. The stock had a trading volume of 52,812 shares, compared to its average volume of 2,545,735. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 1.23. Public Service Enterprise Group has a 12 month low of $58.19 and a 12 month high of $75.61. The business has a fifty day moving average price of $63.01 and a 200 day moving average price of $66.44.

Public Service Enterprise Group (NYSE:PEG - Get Rating) last issued its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 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 analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.48 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed 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 is Thursday, September 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.14%. Public Service Enterprise Group's dividend payout ratio is presently -110.20%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEG. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday. Mizuho dropped their price target on Public Service Enterprise Group from $73.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, July 12th. Credit Suisse Group raised their price target on Public Service Enterprise Group to $69.00 in a research report on Tuesday, August 9th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "overweight" rating for the company in a research report on Monday, May 23rd. Finally, Barclays dropped their price target on Public Service Enterprise Group from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Monday, July 18th. One 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. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average target price of $69.73.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph Izzo sold 9,883 shares of the business's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction 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 $28,717,132.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the company's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total value of $633,994.45. Following the transaction, the chief executive officer now owns 447,656 shares of the company's stock, valued at $28,717,132.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ralph A. Larossa sold 1,054 shares of the company's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.76, for a total transaction of $69,311.04. Following the completion of the transaction, the chief operating officer now directly owns 61,259 shares in the company, valued at $4,028,391.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,357 shares of company stock worth $2,133,525. Company insiders own 0.55% of the company's stock.