KeyCorp Issues Positive Forecast for PEG Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Stock analysts at KeyCorp boosted their Q4 2024 earnings estimates for Public Service Enterprise Group in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $0.85 per share for the quarter, up from their prior forecast of $0.84. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share.

Several other research firms have also recently commented on PEG. Scotiabank upped their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Barclays decreased their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $90.01 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group has a 1 year low of $56.85 and a 1 year high of $95.22. The firm has a fifty day moving average of $89.62 and a 200-day moving average of $81.82. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.34 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.67%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,361 shares of company stock valued at $2,356,562. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the second quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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.