Stocks of Public Service Enterprise Group Incorporated (NYSE:PEG) traded higher last session on Wall Street, down -0.83% to $60.80.
According to the data, Public Service Enterprise Group Incorporated (NYSE:PEG) has 19 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $71.00 and a low of $60.00, we find $68.00. Given the previous closing price of $61.31, this indicates a potential upside of 10.91 percent. PEG stock price is now -1.97% away from the 50-day moving average and -0.67% away from the 200-day moving average. The market capitalization of the company currently stands at $30.25B.
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A total of 7 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $67.39 as their price target over the next twelve months.
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In other news, Carr Eric, President & COO – PSEG Power sold 7,105 shares of the company’s stock on Mar 13. The stock was sold for $409,497 at an average price of $57.63. Upon completion of the transaction, the President & COO – PSEG Power now directly owns 6,482 shares in the company, valued at $0.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05, Vice President and Controller Chernick Rose M sold 200 shares of the business’s stock. A total of $12,090 was realized by selling the stock at an average price of $60.45. This leaves the insider owning 29,776 shares of the company worth $1.81 million. Insiders disposed of 87,985 shares of company stock worth roughly $5.35 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PEG stock. A new stake in Public Service Enterprise Group Incorporated shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $72,094,000. POINT72 ASSET MANAGEMENT, L.P. invested $39,996,000 in shares of PEG during the first quarter. In the first quarter, LIGHTHOUSE INVESTMENT PARTNERS, LLC acquired a new stake in Public Service Enterprise Group Incorporated valued at approximately $17,926,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in PEG for approximately $13,106,000. TREXQUANT INVESTMENT LP purchased a new stake in PEG valued at around $9,532,000 in the second quarter. In total, there are 1,267 active investors with 72.90% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $61.26 for Public Service Enterprise Group Incorporated (NYSE: PEG). During the past 12 months, Public Service Enterprise Group Incorporated has had a low of $52.51 and a high of $69.94. As of last week, the company has a debt-to-equity ratio of 1.37, a current ratio of 0.80, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $51.30B, which is based on a 13.11 price-to-earnings ratio, a 3.05 price-to-earnings-growth ratio, and a beta of 0.58. The fifty day moving average price for PEG is $62.07 and a two-hundred day moving average price translates $61.19 for the stock.
The latest earnings results from Public Service Enterprise Group Incorporated (NYSE: PEG) was released for Mar, 2023. According to the Utilities – Regulated Electric Company, earnings per share came in at $1.39, beating analysts’ expectations of $1.24 by 0.15. This compares to $0.00 EPS in the same period last year. The net profit margin was 20.60% and return on equity was 16.80% for PEG. The company reported revenue of $3.75 billion for the quarter, compared to $2.31 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 62.34 percent. For the current quarter, analysts expect PEG to generate $2B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/09/2023 were paid a $0.57 dividend. On an annualized basis, this represents a $2.28 dividend and a 3.75% percent yield. There was an ex-dividend date of 06/08/2023 for this dividend. In terms of dividend payout ratio, PEG is presently at 46.90%.
Public Service Enterprise Group Incorporated(PEG) Company Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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, 2022, it had electric transmission and distribution system of 25,000 circuit miles and 864,000 poles; 55 switching stations with an installed capacity of 39,653 megavolt-amperes (MVA), and 235 substations with an installed capacity of 9,735 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 56 natural gas metering and regulating stations. Public Service Enterprise Group Incorporated was incorporated in 1985 and is based in Newark, New Jersey.
