Q3 2024 EPS Estimates for Public Service Enterprise Group Incorporated Reduced by Analyst (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) – Research analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for shares of Public Service Enterprise Group in a research note issued on Wednesday, September 11th. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $0.97 per share for the quarter, down from their prior forecast of $0.98. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.68 per share. Zacks Research also issued estimates for Public Service Enterprise Group’s FY2024 earnings at $3.67 EPS and Q3 2025 earnings at $0.95 EPS.

Several other equities analysts have also recently weighed in on PEG. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays raised their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Stock Down 0.0 %

Public Service Enterprise Group stock opened at $84.73 on Monday. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 3.03 and a beta of 0.60. The firm has a 50 day simple moving average of $79.19 and a 200 day simple moving average of $73.23. Public Service Enterprise Group has a 1-year low of $53.71 and a 1-year high of $85.11. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company earned $0.70 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock worth $2,406,965 in the last 90 days. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently modified their holdings of the company. Family Firm Inc. purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $36,000. Salomon & Ludwin LLC lifted its stake in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.