KeyCorp Weighs in on Public Service Enterprise Group Incorporated’s Q1 2021 Earnings (NYSE:PEG)


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Public Service Enterprise Group Incorporated (NYSE:PEG) – Research analysts at KeyCorp issued their Q1 2021 earnings estimates for Public Service Enterprise Group in a research report issued on Tuesday, January 12th. KeyCorp analyst S. Karp expects that the utilities provider will post earnings per share of $1.11 for the quarter. KeyCorp currently has a “Overweight” rating and a $60.00 target price on the stock. KeyCorp also issued estimates for Public Service Enterprise Group’s Q2 2021 earnings at $0.65 EPS, Q3 2021 earnings at $0.94 EPS and Q4 2021 earnings at $0.69 EPS.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, October 30th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.55 billion. Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share.

A number of other analysts have also recently issued reports on PEG. Mizuho reduced their target price on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, January 8th. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, December 15th. Barclays lifted their target price on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 18th. Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $58.00 to $57.00 in a research note on Tuesday, September 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus price target of $63.46.

NYSE PEG opened at $58.68 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $29.68 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 5.05 and a beta of 0.53. The company has a 50 day moving average price of $57.39 and a two-hundred day moving average price of $55.57. Public Service Enterprise Group has a 12-month low of $34.75 and a 12-month high of $62.15.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Thursday, December 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Wednesday, December 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.76%.

A number of hedge funds have recently made changes to their positions in PEG. PNC Financial Services Group Inc. lifted its position in Public Service Enterprise Group by 5.6% during the second quarter. PNC Financial Services Group Inc. now owns 378,725 shares of the utilities provider’s stock worth $18,617,000 after purchasing an additional 19,937 shares during the period. FMR LLC lifted its holdings in shares of Public Service Enterprise Group by 184.7% in the second quarter. FMR LLC now owns 2,598,153 shares of the utilities provider’s stock worth $127,725,000 after buying an additional 1,685,627 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Public Service Enterprise Group by 181.4% in the second quarter. Sei Investments Co. now owns 106,287 shares of the utilities provider’s stock worth $5,209,000 after buying an additional 68,521 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Public Service Enterprise Group by 49.2% in the second quarter. Orion Portfolio Solutions LLC now owns 1,990 shares of the utilities provider’s stock worth $98,000 after buying an additional 656 shares in the last quarter. Finally, RMR Wealth Builders purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $105,000. 68.23% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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

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