On April 3, 2023,
Ladenburg Thalmann
initiated coverage of Public Service Enterprise Group with
a Neutral recommendation.
Analyst Price Forecast Suggests 7.30% Upside
As of March 31, 2023,
the average one-year price target for Public Service Enterprise Group is $67.01.
The forecasts range from a low of $60.60 to a high of $73.50.
The average price target represents an increase of 7.30% from its latest reported closing price of $62.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Public Service Enterprise Group
is $9,290MM, a decrease of 5.20%.
The projected annual non-GAAP EPS
is $3.53.
Public Service Enterprise Group Declares $0.57 Dividend
On February 14, 2023 the company declared a regular
quarterly dividend of $0.57 per share ($2.28 annualized).
Shareholders of record as of March 10, 2023
received the payment on March 31, 2023.
Previously, the company paid $0.54 per share.
At the current share price of $62.45 / share,
the stock’s dividend yield is 3.65%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.40%,
the lowest has been 2.97%,
and the highest has been 5.32%.
The standard deviation of yields is 0.30 (n=236).
The current dividend yield is
0.83 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 1.10.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.16%,
demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Jpmorgan Chase &
holds 19,641K shares
representing 3.94% ownership of the company.
In it’s prior filing, the firm reported owning 7,153K shares, representing
an increase
of 63.58%.
The firm
increased
its portfolio allocation in PEG by 174.67% over the last quarter.
Capital Research Global Investors
holds 16,304K shares
representing 3.27% ownership of the company.
In it’s prior filing, the firm reported owning 26,982K shares, representing
a decrease
of 65.49%.
The firm
decreased
its portfolio allocation in PEG by 39.43% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 15,163K shares
representing 3.04% ownership of the company.
In it’s prior filing, the firm reported owning 14,871K shares, representing
an increase
of 1.92%.
The firm
increased
its portfolio allocation in PEG by 2.60% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 11,534K shares
representing 2.31% ownership of the company.
In it’s prior filing, the firm reported owning 11,308K shares, representing
an increase
of 1.96%.
The firm
increased
its portfolio allocation in PEG by 2.39% over the last quarter.
Geode Capital Management
holds 10,032K shares
representing 2.01% ownership of the company.
In it’s prior filing, the firm reported owning 9,822K shares, representing
an increase
of 2.10%.
The firm
increased
its portfolio allocation in PEG by 2.90% over the last quarter.
What is the Fund Sentiment?
There are 1681 funds or institutions reporting positions in Public Service Enterprise Group.
This is an increase
of
50
owner(s) or 3.07% in the last quarter.
Average portfolio weight of all funds dedicated to PEG is 0.29%,
an increase
of 0.83%.
Total shares owned by institutions increased
in the last three months by 1.81% to 431,882K shares.
The put/call ratio of PEG is 0.26, indicating a
bullish
outlook.
Public Service Enterprise Group Background Information
(This description is provided by the company.)
Public Service Enterprise Group Inc. (PSEG) is a publicly traded diversified energy company with approximately 13,000 employees. Headquartered in Newark, N.J., PSEG’s principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 13 consecutive years.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
