Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) – KeyCorp raised their FY2022 earnings per share (EPS) estimates for Public Service Enterprise Group in a research note issued on Thursday, August 4th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $3.49 per share for the year, up from their previous estimate of $3.45. The consensus estimate for Public Service Enterprise Group's current full-year earnings is $3.48 per share. KeyCorp also issued estimates for Public Service Enterprise Group's Q4 2022 earnings at $0.67 EPS, FY2023 earnings at $3.70 EPS, FY2024 earnings at $3.93 EPS, FY2025 earnings at $4.20 EPS and FY2026 earnings at $4.45 EPS.

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Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS.

Other equities research analysts also recently issued reports about the company. Mizuho reduced their target price on Public Service Enterprise Group from $73.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, July 12th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "overweight" rating for the company in a report on Monday, May 23rd. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Wednesday, August 3rd. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Wednesday, August 3rd. Finally, TheStreet downgraded Public Service Enterprise Group from a "b" rating to a "c" rating in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.36.

Public Service Enterprise Group Trading Up 0.0 %

Shares of Public Service Enterprise Group stock opened at $64.74 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 1.23. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of -33.03, a price-to-earnings-growth ratio of 5.64 and a beta of 0.55. The business has a fifty day simple moving average of $63.21 and a 200-day simple moving average of $66.35. Public Service Enterprise Group has a fifty-two week low of $58.19 and a fifty-two week high of $75.61.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV lifted its position in shares of Public Service Enterprise Group by 3.9% during the 1st quarter. KBC Group NV now owns 30,648 shares of the utilities provider's stock worth $2,145,000 after buying an additional 1,150 shares during the period. Empirical Finance LLC increased its holdings in Public Service Enterprise Group by 12.4% during the 1st quarter. Empirical Finance LLC now owns 9,739 shares of the utilities provider's stock valued at $682,000 after purchasing an additional 1,075 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Public Service Enterprise Group by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 86,445 shares of the utilities provider's stock valued at $5,768,000 after purchasing an additional 1,499 shares in the last quarter. Allegheny Financial Group LTD acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $57,000. Finally, Cadence Bank NA increased its holdings in Public Service Enterprise Group by 1.7% during the 1st quarter. Cadence Bank NA now owns 36,070 shares of the utilities provider's stock valued at $2,525,000 after purchasing an additional 620 shares in the last quarter. Institutional investors own 70.82% of the company's stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total transaction of $673,032.30. Following the completion of the sale, the chief executive officer now owns 457,539 shares in the company, valued at approximately $31,158,405.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the firm's stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $68.10, for a total value of $673,032.30. Following the completion of the sale, the chief executive officer now owns 457,539 shares in the company, valued at approximately $31,158,405.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ralph A. Larossa sold 1,054 shares of the firm's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the sale, the chief operating officer now owns 61,259 shares of the company's stock, valued at approximately $4,028,391.84. The disclosure for this sale can be found here. Insiders sold a total of 32,357 shares of company stock worth $2,133,525 in the last 90 days. 0.55% of the stock is owned by company insiders.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, September 8th. This represents a $2.16 annualized dividend and a yield of 3.34%. Public Service Enterprise Group's payout ratio is -110.20%.

About Public Service Enterprise Group

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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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