Newark, New Jersey-based Public Service Enterprise Group Incorporated (PEG) is a utilities company, focusing on diversified electric, gas and nuclear generation businesses. Valued at $40.6 billion by market cap, the company operates through PSE&G and PSEG Power segments.
Companies worth $10 billion or more are generally described as “large-cap stocks,” Public Service Enterprise fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the utility space.
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PEG touched its all-time high of $95.22 on Nov. 27, 2024, and is currently trading 13.6% below that peak. Meanwhile, PEG declined 3.8% over the past three months, marginally underperforming the Dow Jones Industrials Average’s ($DOWI) 3.7% dip during the same time frame.
Furthermore, PEG had dropped nearly 3% over the past six months, lagging behind Dow’s 57 bps uptick during the same time frame. However, PEG has soared 28.9% over the past 52 weeks, significantly outperforming Dow’s 8.1% gains over the past year.
To confirm the overall bullish trend and recent downturn, PEG traded consistently above its 200-day moving average over the past year until late February and dropped below its 50-day moving average in early December 2024.
Public Service Enterprise Group’s stock price dropped 1.3% after the release of its Q4 results on Feb. 25. Due to milder weather conditions and a decline in energy prices, the company’s overall operating revenues decreased 5.4% year-over-year to $2.5 billion. However, the figure surpassed the Street’s expectations by a notable margin. Meanwhile, the company’s GAAP-based operating income declined 35.7% year-over-year to $445 million. Furthermore, PEG observed an even sharper decline in its cash flows. For fiscal 2024, the company’s operating cash flow decreased by a staggering 44% year-over-year to $2.1 billion.
While PEG outpaced its peer Exelon Corporation’s (EXC) 21.7% gains over the past 52 weeks, it has notably underperformed EXC’s 10.4% surge over the past six months.
Among the 20 analysts covering the PEG stock, the consensus rating is a “Moderate Buy.” Its mean price target of $90.88 represents a 10.5% premium to current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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