Public Service Enterprise Group Incorporated (NYSE: PEG) stock fell -0.79% on Friday to $63.97 against a previous-day closing price of $64.48. With 1.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.62 million shares. During the session, the Utilities – Diversified company that operates in wider Utilities sector, reached to the highest price of $64.40 whereas the lowest price it dropped to was $63.55. The 52-week range on PEG shows that it touched its highest point at $75.61 and its lowest point at $58.19 during that stretch. It currently has a 1-year price target of $73.94. With its current market cap of 31.97 billion, PEG has annualized dividend of $2.16 while the current yield stands at 3.38%. Beta for the stock currently stands at 0.56.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PEG was down-trending over the past week, with a drop of -3.76%, but this was down by -5.06% over a month. Three-month performance surged to 5.86% while six-month performance fell -4.24%. The stock gained 4.83% in the past year, while it has lost -4.14% so far this year. A look at the trailing 12-month EPS for PEG yields -1.96 with Next year EPS estimates of 3.58. For the next quarter, that number is 0.82. This implies an EPS growth rate of -134.20% for this year and 3.02% for next year. EPS is expected to grow by 2.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -22.30%.
Float and Shares Shorts:
At present, 498.86 million PEG shares are outstanding with a float of 497.94 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.09 million, which was 1.22% higher than short shares on Jun 14, 2022. In addition to Dr. Ralph Izzo Ph.D. as the firm’s Chairman, Pres & CEO, Mr. Daniel J. Cregg serves as its Exec. VP & CFO.
Through their ownership of 73.17% of PEG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.70% of PEG, in contrast to 26.75% held by mutual funds. Shares owned by individuals account for 0.39%. As the largest shareholder in PEG with 8.33% of the stake, The Vanguard Group, Inc. holds 41,568,471 shares worth 41,568,471. A second-largest stockholder of PEG, BlackRock Fund Advisors, holds 32,381,548 shares, controlling over 6.49% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PEG, holding 31,226,010 shares or 6.26% stake. With a 2.97% stake in PEG, the American Mutual Fund is the largest stakeholder. A total of 14,823,886 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.96% of PEG stock, is the second-largest Mutual Fund holder. It holds 14,771,185 shares valued at 950.67 million. Vanguard 500 Index Fund holds 2.23% of the stake in PEG, owning 11,140,491 shares worth 717.0 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PEG since 22 analysts follow the stock currently. There are 14 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PEG analysts setting a high price target of $89.00 and a low target of $66.00, the average target price over the next 12 months is $74.28. Based on these targets, PEG could surge 39.13% to reach the target high and rise by 3.17% to reach the target low. Reaching the average price target will result in a growth of 16.12% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PEG will report FY 2022 earnings on 02/24/2023. Analysts have provided yearly estimates in a range of $3.53 being high and $3.40 being low. For PEG, this leads to a yearly average estimate of $3.47. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Public Service Enterprise Group Incorporated surprised analysts by -$0.00 when it reported $0.64 EPS against a consensus estimate of $0.64. The surprise factor in the prior quarter was $0.20. Based on analyst estimates, the high estimate for the next quarter is $1.03 and the low estimate is $0.54. The average estimate for the next quarter is thus $0.82.
Summary of Insider Activity:
Insiders traded PEG stock several times over the past three months with 1 Buys and 7 Sells. In these transactions, 22,444 shares were bought while 32,163 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 44 over the past year. The total number of shares bought during that period was 234,755 while 244,224 shares were sold.