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.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday. Credit Suisse Group boosted their target price on Public Service Enterprise Group to $69.00 in a research note on Tuesday, August 9th. Wells Fargo & Company cut their price target 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. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "overweight" rating on the stock in a report on Monday, May 23rd. Finally, Barclays dropped their price target on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.73.
Public Service Enterprise Group Stock Up 1.8 %
Shares of NYSE:PEG traded up $1.22 during midday trading on Monday, hitting $68.83. The company had a trading volume of 147,852 shares, compared to its average volume of 2,639,240. The firm has a fifty day simple moving average of $63.00 and a 200 day simple moving average of $66.41. 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.
Public Service Enterprise Group (NYSE:PEG - Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.78 billion. Public Service Enterprise Group had a negative net margin of 10.59% and a positive return on equity of 13.25%. The business's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group will post 3.48 earnings per share for the current year.
Public Service Enterprise Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a 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 currently -110.20%.
Insider Buying and Selling at Public Service Enterprise Group
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 sale, the chief operating officer now directly owns 62,313 shares of the company's stock, valued at approximately $4,097,079.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $68.10, for a total value of $673,032.30. Following the completion of the transaction, the chief executive officer now owns 457,539 shares of the company's stock, valued at approximately $31,158,405.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group 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 owns 62,313 shares in the company, valued at $4,097,079.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,357 shares of company stock worth $2,133,525. Insiders own 0.55% of the company's stock.
