KeyCorp Weighs in on Public Service Enterprise Group Incorporated’s Q1 2021 Earnings (NYSE:PEG)


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Public Service Enterprise Group Incorporated (NYSE:PEG) – Equities researchers at KeyCorp issued their Q1 2021 earnings estimates for Public Service Enterprise Group in a report released on Tuesday, January 12th. KeyCorp analyst S. Karp expects that the utilities provider will post earnings per share of $1.11 for the quarter. KeyCorp has a “Overweight” rating and a $60.00 price objective on the stock. KeyCorp also issued estimates for Public Service Enterprise Group’s Q2 2021 earnings at $0.65 EPS, Q3 2021 earnings at $0.94 EPS and Q4 2021 earnings at $0.69 EPS.

A number of other equities research analysts have also recently commented on the stock. Barclays raised their target price on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 18th. Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $58.00 to $57.00 in a research report on Tuesday, September 22nd. Mizuho reduced their price objective on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, January 8th. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Finally, Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $76.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 15th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and an average price target of $63.46.

NYSE PEG opened at $58.68 on Thursday. Public Service Enterprise Group has a 12 month low of $34.75 and a 12 month high of $62.15. The stock has a market cap of $29.68 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 5.05 and a beta of 0.53. The company’s 50 day moving average is $57.39 and its two-hundred day moving average is $55.57. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, October 30th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business earned $0.98 EPS. Public Service Enterprise Group’s revenue for the quarter was up 3.0% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, December 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.76%.

A number of hedge funds have recently added to or reduced their stakes in PEG. Raymond James Trust N.A. boosted its holdings in Public Service Enterprise Group by 0.3% during the fourth quarter. Raymond James Trust N.A. now owns 88,832 shares of the utilities provider’s stock worth $5,179,000 after purchasing an additional 305 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Public Service Enterprise Group by 16.0% in the 4th quarter. IFM Investors Pty Ltd now owns 47,208 shares of the utilities provider’s stock valued at $2,752,000 after purchasing an additional 6,497 shares in the last quarter. Sowell Financial Services LLC boosted its stake in shares of Public Service Enterprise Group by 32.2% in the 4th quarter. Sowell Financial Services LLC now owns 2,225 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 542 shares in the last quarter. Legacy Private Trust Co. boosted its position in Public Service Enterprise Group by 16.3% during the 4th quarter. Legacy Private Trust Co. now owns 49,828 shares of the utilities provider’s stock valued at $2,905,000 after buying an additional 6,991 shares during the period. Finally, NuWave Investment Management LLC boosted its position in Public Service Enterprise Group by 11,800.0% during the 4th quarter. NuWave Investment Management LLC now owns 2,023 shares of the utilities provider’s stock valued at $118,000 after buying an additional 2,006 shares during the period. 68.23% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.

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Earnings History and Estimates for Public Service Enterprise Group (NYSE:PEG)

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