Stocks of Public Service Enterprise Group Incorporated (NYSE:PEG) traded higher last session on Wall Street, up 0.82% to $61.39.
According to the data, Public Service Enterprise Group Incorporated (NYSE:PEG) has 20 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 $72.00 and a low of $62.00, we find $67.00. Given the previous closing price of $60.89, this indicates a potential upside of 10.03 percent. PEG stock price is now -0.70% away from the 50-day moving average and -0.08% away from the 200-day moving average. The market capitalization of the company currently stands at $30.32B.
A total of 9 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $66.93 as their price target over the next twelve months.
With the price target of $64, Barclays recently initiated with Overweight rating for Public Service Enterprise Group Incorporated (NYSE: PEG).
In other news, Chernick Rose M, Vice President and Controller sold 200 shares of the company’s stock on Aug 21. The stock was sold for $12,152 at an average price of $60.76. Upon completion of the transaction, the Vice President and Controller now directly owns 32,220 shares in the company, valued at $1.98 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 01, Chair, President and CEO LaRossa Ralph A sold 8,074 shares of the business’s stock. A total of $520,369 was realized by selling the stock at an average price of $64.45. This leaves the insider owning 115,306 shares of the company worth $7.08 million. Insiders disposed of 56,727 shares of company stock worth roughly $3.48 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 ATLAS INFRASTRUCTURE PARTNERS (UK) LTD. during the first quarter worth $131,385,000. JANE STREET GROUP, LLC invested $63,851,000 in shares of PEG during the first quarter. In the first quarter, ONTARIO TEACHERS PENSION PLAN BOARD acquired a new stake in Public Service Enterprise Group Incorporated valued at approximately $5,488,000. JUPITER ASSET MANAGEMENT LTD acquired a new stake in PEG for approximately $2,914,000. WORLDQUANT MILLENNIUM ADVISORS LLC purchased a new stake in PEG valued at around $2,134,000 in the second quarter. In total, there are 1,256 active investors with 72.90% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $61.28 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 $68.31. As of last week, the company has a debt-to-equity ratio of 1.31, a current ratio of 0.70, and a quick ratio of 0.50. According to the stock market information, the enterprise value for the company is $49.68B, which is based on a 11.05 price-to-earnings ratio, a 2.01 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for PEG is $61.78 and a two-hundred day moving average price translates $61.45 for the stock.
The latest earnings results from Public Service Enterprise Group Incorporated (NYSE: PEG) was released for Jun, 2023. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.7, beating analysts’ expectations of $0.63 by 0.07. This compares to $0.26 EPS in the same period last year. The net profit margin was 24.00% and return on equity was 19.60% for PEG. The company reported revenue of $2.42 billion for the quarter, compared to $2.08 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.62 percent. For the current quarter, analysts expect PEG to generate $2.18B 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 3.71% 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 39.70%.
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.
