The price of Public Service Enterprise Group Inc. (NYSE:PEG) shares last traded on Wall Street rose 0.78% to $56.56.
Based on available information, 19 analysts follow Public Service Enterprise Group Inc. (NYSE:PEG). 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 $60.00, we find $66.00. Given the previous closing price of $56.12, this indicates a potential upside of 17.61 percent. PEG stock price is now -6.37% away from the 50-day moving average and -7.80% away from the 200-day moving average. The market capitalization of the company currently stands at $28.23B.
Among analysts, 9 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $66.43 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 Inc. (NYSE: PEG).
In other news, Chernick Rose M, Vice President and Controller sold 200 shares of the company’s stock on Sep 21. The stock was sold for $12,126 at an average price of $60.63. Upon completion of the transaction, the Vice President and Controller now directly owns 32,020 shares in the company, valued at $1.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, Vice President and Controller Chernick Rose M sold 200 shares of the business’s stock. A total of $12,152 was realized by selling the stock at an average price of $60.76. This leaves the insider owning 32,220 shares of the company worth $1.82 million. Insiders disposed of 56,727 shares of company stock worth roughly $3.21 million over the past 1 year. A total of 0.13% 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 Inc. shares was purchased by ATLAS INFRASTRUCTURE PARTNERS (UK) LTD. during the first quarter worth $121,048,000. JANE STREET GROUP, LLC invested $58,827,000 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 Inc. valued at approximately $5,056,000. JUPITER ASSET MANAGEMENT LTD acquired a new stake in PEG for approximately $2,684,000. WORLDQUANT MILLENNIUM ADVISORS LLC purchased a new stake in PEG valued at around $1,966,000 in the second quarter. In total, there are 1,256 active investors with 74.24% ownership of the company’s stock.
A candlestick chart of Public Service Enterprise Group Inc. (NYSE: PEG) showed a price of $56.01 on Thursday morning. During the past 12 months, Public Service Enterprise Group Inc. has had a low of $52.51 and a high of $65.46. As of last week, the company has a debt-to-equity ratio of 1.32, a current ratio of 0.67, and a quick ratio of 0.52. According to the stock market information, the enterprise value for the company is $47.30B, which is based on a 10.17 price-to-earnings ratio, a 1.85 price-to-earnings-growth ratio, and a beta of 0.64. The fifty day moving average price for PEG is $60.24 and a two-hundred day moving average price translates $61.33 for the stock.
The latest earnings results from Public Service Enterprise Group Inc. (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 25.99% and return on equity was 19.52% 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 4.04% 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 104.96%.
Public Service Enterprise Group Inc.(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.
