Scotiabank Has Bullish Outlook for PEG FY2025 Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG) – Stock analysts at Scotiabank raised their FY2025 EPS estimates for Public Service Enterprise Group in a research report issued on Friday, January 23rd. Scotiabank analyst A. Weisel now forecasts that the utilities provider will post earnings per share of $4.04 for the year, up from their previous estimate of $4.02. The consensus estimate for Public Service Enterprise Group’s current full-year earnings is $3.67 per share.

Other equities analysts also recently issued research reports about the company. UBS Group lowered their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price for the company. BTIG Research began coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Barclays cut their price target on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Stock Up 1.0%

Shares of PEG stock opened at $79.03 on Monday. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $91.25. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.54 and a beta of 0.60. The firm’s 50-day moving average is $80.14 and its 200-day moving average is $82.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently added to or reduced their stakes in the stock. JARISLOWSKY FRASER Ltd boosted its holdings in shares of Public Service Enterprise Group by 107.1% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after purchasing an additional 530,248 shares in the last quarter. Railway Pension Investments Ltd raised its holdings in shares of Public Service Enterprise Group by 97.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after buying an additional 937,100 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 18.2% during the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after buying an additional 253,810 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Public Service Enterprise Group by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after buying an additional 13,540 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Public Service Enterprise Group by 12.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,638,039 shares of the utilities provider’s stock valued at $387,091,000 after buying an additional 512,341 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.