Public Service Enterprise Group (PEG) Shares Soar 1.03% on Dividend, Earnings Hopes

Public Service Enterprise Group (PEG) shares surged 1.03% today, marking the sixth consecutive day of gains, with a cumulative increase of 5.89% over the past six days. The stock price reached its highest level since January 2025, with an intraday gain of 2.61%.

The strategy of purchasing PEG shares after they reached a recent high and holding for one week yielded moderate returns but underperformed the market. The annualized return of this strategy was 7.3%, which is below the S&P 500's annualized return of 14.7% over the same period. This suggests that while the strategy provided a positive return, it was not able to keep pace with the broader market's growth.

One of the key drivers behind the recent surge in PEG's stock price is the company's dividend declaration. In the last quarter, PEG announced a $0.63 per-share dividend, which led to a 3% price increase. This dividend payout has been well-received by investors, contributing to the positive sentiment surrounding the stock.

Another significant factor influencing PEG's stock price is the upcoming earnings call. The company is scheduled to host its second-quarter 2025 earnings call on August 5. This event is expected to provide valuable insights into the company's financial performance and future prospects, potentially impacting investor sentiment and stock price.

Analysts have also shown a positive outlook for PEG. BMO Capital recently raised its price target for the company to $84.00, reflecting a bullish stance on the stock. This adjustment by analysts has likely contributed to the recent upward trend in PEG's share price.

Additionally, there is a promising outlook for PEG due to the potential for a data center deal involving the company's nuclear plants. This deal, which could be finalized by the end of the year, has generated optimism among investors, further driving the stock price higher.