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Public Service Enterprise Group Incorporated (NYSE:PEG) – Investment analysts at KeyCorp upped their FY2021 earnings...

Public Service Enterprise Group Incorporated (NYSE:PEG) – Investment analysts at KeyCorp upped their FY2021 earnings estimates for Public Service Enterprise Group in a research report issued on Friday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $3.63 for the year, up from their previous forecast of $3.57. KeyCorp currently has a “Overweight” rating and a $69.00 target price on the stock. KeyCorp also issued estimates for Public Service Enterprise Group’s Q4 2021 earnings at $0.67 EPS and FY2025 earnings at $4.01 EPS.

A number of other research analysts have also commented on the company. Barclays upped their price target on Public Service Enterprise Group from $67.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 6th. Mizuho increased their target price on Public Service Enterprise Group from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, October 11th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Vertical Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their target price for the company from $67.00 to $69.00 in a research note on Wednesday, September 29th. Finally, Morgan Stanley dropped their price target on Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, September 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Buy” and an average target price of $69.11.

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Shares of Public Service Enterprise Group stock opened at $63.45 on Monday. Public Service Enterprise Group has a 12-month low of $53.77 and a 12-month high of $65.33. The stock has a market capitalization of $32.08 billion, a P/E ratio of -48.07, a PEG ratio of 4.89 and a beta of 0.56. The stock has a 50 day moving average price of $62.53 and a two-hundred day moving average price of $62.25. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.03. Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, November 2nd. The utilities provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a positive return on equity of 11.77% and a negative net margin of 7.30%. During the same quarter in the previous year, the business posted $0.96 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Thursday, December 9th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, December 8th. This represents a $2.04 annualized dividend and a dividend yield of 3.22%. Public Service Enterprise Group’s payout ratio is -154.55%.

In other news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $60.66, for a total value of $599,502.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rose M. Chernick sold 400 shares of the stock in a transaction on Friday, September 17th. The stock was sold at an average price of $62.95, for a total value of $25,180.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,746 shares of company stock worth $1,921,419. 0.52% of the stock is owned by corporate insiders.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Nordea Investment Management AB grew its stake in shares of Public Service Enterprise Group by 93.8% in the third quarter. Nordea Investment Management AB now owns 13,645,900 shares of the utilities provider’s stock worth $840,451,000 after purchasing an additional 6,604,779 shares during the last quarter. Capital Research Global Investors boosted its position in Public Service Enterprise Group by 17.1% during the 3rd quarter. Capital Research Global Investors now owns 18,438,963 shares of the utilities provider’s stock valued at $1,122,933,000 after acquiring an additional 2,696,215 shares in the last quarter. First Trust Advisors LP boosted its position in Public Service Enterprise Group by 140.7% during the 2nd quarter. First Trust Advisors LP now owns 3,902,518 shares of the utilities provider’s stock valued at $233,136,000 after acquiring an additional 2,281,119 shares in the last quarter. Amundi bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $127,527,000. Finally, Invesco Ltd. raised its holdings in Public Service Enterprise Group by 70.5% in the 3rd quarter. Invesco Ltd. now owns 4,615,261 shares of the utilities provider’s stock worth $281,071,000 after acquiring an additional 1,909,054 shares during the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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Earnings History and Estimates for Public Service Enterprise Group (NYSE:PEG)

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