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 Up 0.8 %
Shares of PEG opened at $69.39 on Friday. The company has a market capitalization of $34.62 billion, a P/E ratio of -35.40, a PEG ratio of 6.35 and a beta of 0.55. Public Service Enterprise Group has a one year low of $58.19 and a one year high of $75.61. The business's 50 day simple moving average is $63.12 and its 200-day simple moving average is $66.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.68.
Public Service Enterprise Group (NYSE:PEG - Get Rating) last announced 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $0.70 EPS. Public Service Enterprise Group's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group will post 3.48 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 8th. Public Service Enterprise Group's dividend payout ratio is currently -110.20%.
Wall Street Analysts Forecast Growth
PEG has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 3rd. Mizuho reduced their target price on shares of 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. StockNews.com cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Saturday, August 13th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $75.00 to $81.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, TheStreet lowered Public Service Enterprise Group from a "b" rating to a "c" rating in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.
Insider Buying and Selling
In other news, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction on Friday, July 29th. The stock was sold at an average price of $65.75, for a total value of $69,300.50. Following the completion of the sale, the chief operating officer now directly owns 62,313 shares of the company's stock, valued at approximately $4,097,079.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Ralph Izzo sold 9,883 shares of the firm's stock in a transaction dated Friday, July 1st. The shares were 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 approximately $28,717,132.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 62,313 shares of the company's stock, valued at $4,097,079.75. The disclosure for this sale can be found here. Insiders sold 32,357 shares of company stock worth $2,133,525 in the last quarter. Insiders own 0.55% of the company's stock.
