Public Service Enterprise Group (PEG) Monthly Report
Publication Date: September 22, 2024
Company Overview
Public Service Enterprise Group (PEG), based in Newark, New Jersey, is a leading player in the regulated electric utilities sector in the United States. Established in 1903, PEG operates primarily through two segments: PSE&G, which manages the transmission and distribution of electricity and natural gas, and engages in solar generation and energy efficiency efforts; and PSEG Power, focusing on nuclear generation and gas storage. With an impressive infrastructure encompassing 25,000 circuit miles of electric transmission and 18,000 miles of gas mains, PEG stands out in the utilities industry, offering stability and sustainability. The company reported total revenue of approximately $10.24 billion as of December 31, 2023, reflecting its strong market presence and ongoing commitment to innovation.
Investment Outlook
The investment community has expressed a bullish outlook on PEG, reflected in a strong “buy” recommendation. Analysts project a high target price of $92.00, indicating considerable growth potential driven by the stability of the regulated electric utilities sector. PEG’s current trading price of $86.76 positions it just below its 52-week high of $86.83, showcasing solid market performance and investor confidence. The low short interest of approximately 1.54%, relative to 498,161,984 shares outstanding, indicates a generally positive sentiment towards the company’s future.
Performance Summary
Over the past year, PEG’s stock exhibited notable volatility, fluctuating between a low of $53.71 and a high of $86.83. However, the stock’s upward trend is underscored by the fifty-day moving average of $79.61, suggesting strong buying interest. The analysts’ consensus reflects optimism, with a mean recommendation score of 2.4 derived from 16 opinions, and a median target price of $84.00. These indicators point to PEG being an attractive prospect for investors seeking to diversify their portfolios while benefiting from the regulated utilities sector’s inherent stability. The combination of PEG’s financial strength, ongoing growth potential, and positive market sentiment makes it a stock worth considering in the current landscape.
| Metric | Value |
|---|---|
| Market Cap | $43.2b |
| Total Debt | $21.6b |
| Total Cash | $113.0m |
| Shares Outstanding | 498.2m |
| Float Shares | 496.9m |
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