FY2029 Earnings Estimate for PEG Issued By Seaport Res Ptn

Public Service Enterprise Group Incorporated (NYSE:PEG) – Equities research analysts at Seaport Res Ptn issued their FY2029 earnings per share estimates for Public Service Enterprise Group in a research report issued to clients and investors on Tuesday, June 3rd. Seaport Res Ptn analyst A. Storozynski expects that the utilities provider will post earnings of $5.89 per share for the year. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share.

PEG has been the topic of a number of other reports. Barclays dropped their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus target price of $89.63.

Public Service Enterprise Group Stock Up 0.5%

NYSE:PEG opened at $80.19 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $40.01 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a 50-day moving average of $80.20 and a 200 day moving average of $83.41. Public Service Enterprise Group has a 1-year low of $71.89 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $2,010,000. Ninepoint Partners LP boosted its position in Public Service Enterprise Group by 14.1% in the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider’s stock valued at $1,249,000 after buying an additional 1,830 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $875,000. Van ECK Associates Corp increased its holdings in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after buying an additional 483,795 shares during the period. Finally, Clarity Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $803,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.