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Saturday, October 24, 2020

Public Service Enterprise Group Incorporated (NYSE:PEG) on the Path to Profitability

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Public Service Enterprise Group Incorporated (PEG) shares are trading at higher $57.76 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $61.27.

To add more color to this target, the company’s high over the last year is $63.88 and the low is $34.75. Over the last 52 weeks, PEG is down -7.36% while the S&P 500 is up 18.95%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PEG reported a profit of $407.0 million. Public Service Enterprise Group Incorporated also saw revenues increase to $2.05 billion. In addition, PEG has free cash flow of $250.0 million as of 06-2020. The company’s EBITDA came in at $800.0 million which compares well with its peers.

PEG booked profit margins of 18.10%, its Return on Equity (ROE) is 11.40%, and its Return on Assets is 3.60%. All told, it is clear that, PEG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PEG has a short ratio of 2.39 and outstanding shares of 505.76M.

Company Outlook

PEG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.3 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 3.43. Public Service Enterprise Group Incorporated PEG also noted assets of $48.51 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PEG has historically followed its peers on positive news.

All told, Public Service Enterprise Group Incorporated PEG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PEG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Public Service Enterprise Group Incorporated PEG is now commanding a market cap of 29.64B and a float of 505.07M. PEG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PEG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PEG, either long or short, and we have not been compensated for this article.

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