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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TheStreet downgraded Public Service Enterprise Group from a "b" rating to a "c" rating in a research note on Monday, June 13th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Wednesday, August 3rd. Credit Suisse Group upped their price target on Public Service Enterprise Group to $69.00 in a report on Tuesday, August 9th. Mizuho lowered their price target on Public Service Enterprise Group from $73.00 to $68.00 and set a "buy" rating on the stock in a report on Tuesday, July 12th. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $75.00 to $81.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.64.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $68.81 on Thursday. The business's fifty day moving average price is $63.04 and its two-hundred day moving average price is $66.46. The stock has a market cap of $34.33 billion, a PE ratio of -35.11, a price-to-earnings-growth ratio of 6.35 and a beta of 0.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.68 and a current ratio of 0.78. Public Service Enterprise Group has a one year low of $58.19 and a one year high of $75.61.

Public Service Enterprise Group (NYSE:PEG - Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned $0.70 EPS. Public Service Enterprise Group's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group will post 3.48 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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 issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 8th. Public Service Enterprise Group's dividend payout ratio (DPR) is -110.20%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph Izzo sold 9,883 shares of the 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 directly owns 447,656 shares of the company's stock, valued at approximately $28,717,132.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ralph Izzo sold 9,883 shares of the 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 directly owns 447,656 shares of the company's stock, valued at approximately $28,717,132.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ralph A. Larossa sold 1,054 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.76, for a total value 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. Insiders have sold 32,357 shares of company stock worth $2,133,525 over the last quarter. 0.55% of the stock is currently owned by insiders.