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

Shares of PEG Stock traded up $0.65 during mid-day trading on Monday, hitting $65.39. The company had a trading volume of 84,387 shares, compared to its average volume of 2,655,984. Public Service Enterprise Group has a 52-week low of $58.19 and a 52-week high of $75.61. The stock's 50 day moving average price is $63.21 and its 200-day moving average price is $66.35. 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 company has a market capitalization of $32.62 billion, a P/E ratio of -33.27, a P/E/G ratio of 5.63 and a beta of 0.55.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, September 8th. Public Service Enterprise Group's dividend payout ratio is presently -110.20%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent research reports. Mizuho lowered their price objective on Public Service Enterprise Group from $73.00 to $68.00 and set a "buy" rating for the company in a research note on Tuesday, July 12th. Credit Suisse Group initiated coverage on Public Service Enterprise Group in a research note on Monday, April 25th. They set a "neutral" rating and a $76.00 price objective for the company. Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Wednesday, August 3rd. StockNews.com cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 3rd. Finally, Barclays lowered their price objective on Public Service Enterprise Group from $75.00 to $66.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.36.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of the business's stock in a transaction on 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 owns 62,313 shares in the company, valued at $4,097,079.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Ralph A. Larossa sold 1,054 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $65.75, for a total value of $69,300.50. Following the transaction, the chief operating officer now directly owns 62,313 shares in the company, valued at $4,097,079.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ralph Izzo sold 9,883 shares of the company's stock in a transaction dated 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 owns 447,656 shares in the company, valued at $28,717,132.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,357 shares of company stock worth $2,133,525. Insiders own 0.55% of the company's stock.