Public Service Enterprise Group (PEG) is a company that has recently caught the attention of investors for its promising financials. As of June 22, 2023, PEG shares opened at $62.60 on Thursday.
The company boasts a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. These figures show that PEG is in solid financial health and has the capacity to pay off its debts and liabilities as they come due.
In terms of stock performance, PEG has had a twelve month low of $52.51 and a twelve month high of $69.94 with a 50-day moving average price of $62.38 and its 200-day moving average price is at $61.36.The market capitalization for PEG stands at an impressive $31.23 billion with an attractive price-to-earnings ratio of 13.49.
Analysts have also been issuing reports on PEG’s standing in the market which indicate potential growth opportunities for investors. Ladenburg Thalm/SH SH began coverage on shares of Public Service Enterprise Group with a “neutral” rating while other firms such as StockNews.com gave the company a “hold” rating.
Overweight assessment was given to Public Service Enterprise Group by Morgan Stanley at $70 per share target value whereas JP Morgan Chase lowered their target price from an optimistic standpoint from$70 to $67 in their research note on Wednesday, June 7th . Finally, The Goldman Sachs Group even assumed coverage on shares of Public Service Enterprise Group with much positivity remaining neutral while maintaining a respectable rate at which to purchase this stock with referencing the value to be targeted around current levels being only marginally up or down.
The utility provider recently announced quarterly dividends and will be paid out by Friday June 30th . Investors were recorded receiving dividends per share sitting at ($0.57) amount and a promising annual dividend yield of 3.64%. PEG has kept a payout ratio that ranges at an impressive 49.14% keeping shareholders happy simultaneously.
PEG’s first quarter earnings report showed the utilities provider generating $3.76 billion for the quarter, well above the consensus estimates of $2.89 billion earning $1.39 in earnings per share compared to the previous year’s EPS being posted at $1.33.Attributing to their considerable growth, Public Service Enterprise Group yielded a net margin of 20.64% with its return on equity standing firmly at 12.78%.
In conclusion, based on these financial indicators with escalating profits and overall strong revenue generation has certainly made investors’ heads turn towards Public Service Enterprise Group as it stands among one of the top utility providers in market today ensuring profits and growth opportunities for potential investors who fall under their radar while also maintaining shareholder satisfaction.
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Institutional Investors Show Interest in Public Service Enterprise Group’s Financial Outlook
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”PEG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Public Service Enterprise Group (PEG), a widely recognized utilities provider, has recently caught the attention of hedge funds and other institutional investors. While some have increased their positions in PEG, others have cut back on their shares. As of June 19th, Seaport Res Ptn issued their FY2023 EPS estimates for Public Service Enterprise Group, predicting that the company will earn $3.45 per share for the year. This estimation is higher than the consensus estimate for Public Service Enterprise Group’s current full-year earnings at $3.44 per share.
According to recent data, PFS Investments Inc. raised its position in PEG by 10.4% during the third quarter and now holds 24,870 shares of the utilities provider’s stock worth $1,398,000 after acquiring an additional 2,350 shares in the last quarter. Fiduciary Trust Co., another institutional investor, increased its stake in shares of Public Service Enterprise Group by 9.0% in the third quarter and currently owns 7,794 shares of PEG’s stock worth $438,000 after acquiring an additional 646 shares during that time.
AE Wealth Management LLC also came aboard as one of Public Service Enterprise Group’s investors during this period and boosted its holdings by a significant percentage; raising it by 33.4% to acquire over 228K shares of PEG’s stock valued at $13,972,000.
Envestnet Asset Management Inc., meanwhile, made gains by increasing its stake in publicly traded PEG by 11.5% during Q3 – bringing its portfolio to approximately half a million shares worth around $27M based on Q3 reports.
Finally, Louisiana State Employees Retirement System raised its holdings in Public Service Enterprise Group by nearly one percent during Q4 to own approximately just over thirty-two thousand mortgage lines from the company’s pooled funds – indicating continued interest among institutional investors toward utilities providers such as Public Service Enterprise Group.
It is interesting to see how PEG feels shared interests in building long-term financial security with its institutional investors and funds, as it engages in cautious investment programs while keeping its shareholders’ interests in mind. The consensus estimate for PEG’s FY2024 earnings is $3.67 EPS and Seaport Res Ptn predicts that the company will earn $4.05 EPS and $4.28 EPS for FY2025 and FY2026 respectively – highlighting a positive investment outlook which is likely behind increased investor interest that PEG has seen recently on various markets including exchanges like NYSE (PEG).
