Public Service Enterprise Group Incorporated’s Stock Price Dips to $87.66, Recording a 1.17% Decrease

Public Service Enterprise Group Incorporated (PEG)

87.66 USD -1.04 (-1.17%) Volume: 3.78M

Public Service Enterprise Group Incorporated’s stock price stands at 87.66 USD, witnessing a slight dip of -1.17% this trading session, with a robust trading volume of 3.78M. Despite the recent decline, PEG’s year-to-date performance remains strong, boasting a significant increase of +43.35%.

Latest developments on Public Service Enterprise Group Incorporated

Public Service Enterprise Group Inc (NYSE:PEG) saw unusually high options volume today, following the approval of the PSE&G rate case settlement. Despite a weak financial position, PSEG stock has been buoyed by investments. This marks the first rate hike secured by PSE&G in six years, leading to a surge in stock price. However, insider selling has been noted, with EVP Linde Tamara Louise selling over 9,500 shares. The Czech National Bank also purchased shares of PEG, while Dynamic Advisor Solutions LLC increased their holdings. With mixed signals from insiders and investors, Public Service Enterprise Group Inc stock performance has been underwhelming compared to competitors, prompting BofA to raise the stock target.

Public Service Enterprise Group Incorporated on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely covering Public Service Enterprise Group Inc. In their report titled “Public Service Enterprise Group: A Tale Of Infrastructure Investments For Evolving Demands! – Major Drivers,” they highlighted the company’s second-quarter 2024 earnings. Despite facing challenges, the company showed strategic growth with a net income of $0.87 per share, slightly lower than the previous year. The non-GAAP operating earnings were reported at $0.63 per share, indicating a steady performance.

Furthermore, Baptista Research also published another report titled “Public Service Enterprise Group (PSEG): Initiation of Coverage – How They Are Achieving Strategic Growth through Enhanced Service Offerings? – Major Drivers.” This report focused on the company’s first-quarter earnings for 2024 and their strategic growth plans. Public Service Enterprise Group aims to maintain its non-GAAP operating earnings guidance and expects a growth rate between 5% to 7% through 2028. The analysts highlighted the company’s investments in infrastructure and energy efficiency to support the electrification of various sectors and reduce greenhouse gas emissions.

A look at Public Service Enterprise Group Incorporated Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Public Service Enterprise Group Inc has received varying scores across different factors, with its highest score in Momentum. This indicates that the company is currently experiencing strong positive momentum in the market. While the Value score is lower, suggesting that the stock may not be undervalued, the Growth, Resilience, and Dividend scores are all moderate, showing a stable outlook for the company in terms of growth potential, financial stability, and dividend yield.

Overall, Public Service Enterprise Group Inc seems to have a positive long-term outlook, with strong momentum and decent scores in other key factors. As a public utility holding company operating in the Northeastern and Mid Atlantic United States, the company’s diverse operations in electricity generation, transmission, distribution, and natural gas production provide a stable foundation for future growth and resilience in the face of market fluctuations.

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