The recent reports indicate a dynamic market performance for the
Public Service Enterprise Group Incorporated (PEG). The impressive
institutional ownership with 75% control has rewarded with a stock increase of 3.5% and 4.7% over the previous weeks. The company's price targets have been raised by multiple financial institutions, including
Evercore ISI and
Barclays to $95 and $98 respectively. Despite some underperformance on specific days when compared to competitors, PSEG's stock continues to generally outperform with notable returns for investors of 67% over the last year.
Notwithstanding, the company faces some financial challenges, with an EVP selling over $866k in stock and a significant reduction in the Direct Ownership. Furthermore, the revenue from the
Q2 Earnings fell short of estimates, although they rose year on year. PSEG also secured its first
rate hike in six years, but financial results from Q1 and Q2 2024 missed expectations, despite reporting strong gains for 2023. Finally, analysts are estimating a decline in forthcoming earnings for the company.
Public Service Enterprise Group Incorporated PEG News Analytics from Tue, 19 Dec 2023 08:00:00 GMT to Fri, 11 Oct 2024 15:43:57 GMT -
Rating 6
- Innovation 3
- Information 8
- Rumor 2
