Public Service Enterprise Group (NYSE:PEG) Updates FY 2024 Earnings Guidance

Public Service Enterprise Group (NYSE:PEG - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 3.640-3.680 for the period, compared to the consensus EPS estimate of 3.660. The company issued revenue guidance of -. Public Service Enterprise Group also updated its FY24 guidance to $3.64-$3.68 EPS.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEG shares. Barclays raised their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a "hold" rating and a $85.00 price objective for the company. Scotiabank upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.46.

Public Service Enterprise Group Price Performance

PEG stock traded down $5.44 during mid-day trading on Monday, reaching $81.87. 5,443,939 shares of the company's stock were exchanged, compared to its average volume of 2,792,866. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $92.20. The stock's 50 day moving average is $86.48 and its 200 day moving average is $78.75. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.94 and a beta of 0.61.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. 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 available at this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company's stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company's stock.

Public Service Enterprise Group Company Profile

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.