Seaport Res Ptn Issues Pessimistic Forecast for PEG Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Analysts at Seaport Res Ptn decreased their FY2025 earnings per share estimates for Public Service Enterprise Group in a research report issued on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $4.17 per share for the year, down from their prior forecast of $4.18. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share. Seaport Res Ptn also issued estimates for Public Service Enterprise Group’s FY2027 earnings at $4.95 EPS and FY2028 earnings at $5.20 EPS.

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

A number of other analysts have also weighed in on the company. UBS Group upped their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Stock Up 1.1 %

Public Service Enterprise Group stock opened at $90.73 on Thursday. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The stock’s fifty day simple moving average is $85.31 and its 200-day simple moving average is $77.52. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $45.19 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.71 and a beta of 0.61.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently made changes to their positions in the business. Family Firm Inc. acquired a new stake in Public Service Enterprise Group in the second quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the second quarter valued at about $35,000. Salomon & Ludwin LLC lifted its position 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 valued at $39,000 after purchasing an additional 560 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at about $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group in the second quarter valued at about $52,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is currently owned by insiders.

About Public Service Enterprise Group

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.