In yesterday’s Wall Street session, Public Service Enterprise Group Incorporated (NYSE:PEG) shares traded at $64.88, up 0.50% from the previous session.
As of this writing, 19 analysts cover Public Service Enterprise Group Incorporated (NYSE:PEG). 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 $64.56, this indicates a potential upside of 5.33 percent. PEG stock price is now 4.26% away from the 50-day moving average and 7.08% away from the 200-day moving average. The market capitalization of the company currently stands at $32.04B.
There are 8 analysts who have given it a hold rating, whereas 10 have given it a buy rating. Brokers who have rated the stock have averaged $67.38 as their price target over the next twelve months.
In other news, LaRossa Ralph A, Chair, President and CEO sold 4,168 shares of the company’s stock on Jul 03. The stock was sold for $262,613 at an average price of $63.01. Upon completion of the transaction, the Chair, President and CEO now directly owns 122,572 shares in the company, valued at $7.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13, President & COO – PSEG Power Carr Eric sold 7,105 shares of the business’s stock. A total of $409,497 was realized by selling the stock at an average price of $57.63. This leaves the insider owning 6,482 shares of the company worth $0.42 million. Insiders disposed of 71,987 shares of company stock worth roughly $4.67 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 $76,932,000. POINT72 ASSET MANAGEMENT, L.P. invested $42,680,000 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 $19,129,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in PEG for approximately $13,986,000. TREXQUANT INVESTMENT LP purchased a new stake in PEG valued at around $10,172,000 in the second quarter. In total, there are 1,267 active investors with 72.90% ownership of the company’s stock.
Tuesday morning saw Public Service Enterprise Group Incorporated (NYSE: PEG) opened at $64.56. 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 $51.55B, which is based on a 13.99 price-to-earnings ratio, a 2.86 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for PEG is $62.26 and a two-hundred day moving average price translates $60.62 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 $1.96B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/08/2023 were paid a $0.57 dividend. On an annualized basis, this represents a $2.28 dividend and a 3.51% percent yield. There was an ex-dividend date of 09/07/2023 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.
