Public Service Enterprise Group Incorporated (NYSE:PEG) Forecasted to Post Q4 2024 Earnings of $0.69 Per Share

Public Service Enterprise Group Incorporated (NYSE:PEG) – Stock analysts at Zacks Research decreased their Q4 2024 earnings estimates for Public Service Enterprise Group in a report released on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $0.69 per share for the quarter, down from their prior estimate of $0.76. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.66 per share. Zacks Research also issued estimates for Public Service Enterprise Group’s Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.73 EPS and FY2025 earnings at $3.94 EPS.

PEG has been the subject of several other research reports. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Barclays raised their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $73.55 on Wednesday. The firm has a 50-day simple moving average of $68.44 and a 200-day simple moving average of $63.84. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $36.63 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $75.17.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The business’s revenue was down 26.5% on a year-over-year basis.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently made changes to their positions in PEG. Duality Advisers LP purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $319,000. Principal Financial Group Inc. raised its stake in Public Service Enterprise Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 644,682 shares of the utilities provider’s stock valued at $36,689,000 after buying an additional 29,671 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Public Service Enterprise Group by 4.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,917 shares of the utilities provider’s stock worth $507,000 after buying an additional 369 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth about $374,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $499,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold 9,322 shares of company stock worth $607,376 in the last three months. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

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.