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Why PSEG (PEG) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2 分鐘文章

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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PSEG (PEG)

Incorporated in 1985, Newark, NJ-based Public Service Enterprise Group Inc. (PEG) or PSEG is a diversified energy company, which consists primarily of a regulated electric and gas utility and a nuclear generation business. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the United States.

PEG boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of PSEG has seen some interesting price action recently; the stock is up 0.7% over the past one week and up 1.1% over the past four weeks. And in the last one-year period, PEG has gained 19.8%. As for the stock's trading volume, 2,429,002.75 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for PEG, while the Zacks Consensus Estimate has increased $0.01 to $3.67 per share. PEG also boasts an average earnings surprise of 7.3%.

Investors should take the time to consider PEG for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report

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Zacks Investment Research