Enterprise

Public Service Enterprise Group Incorporated (NYSE:PEG) Expected to Announce Earnings of $0.70 Per Share



Brokerages expect Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) to post $0.70 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Public Service Enterprise Group’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.79. Public Service Enterprise Group also reported earnings of $0.70 per share during the same quarter last year. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Public Service Enterprise Group will report full-year earnings of $3.47 per share for the current year, with EPS estimates ranging from $3.45 to $3.51. For the next year, analysts expect that the company will report earnings of $3.74 per share, with EPS estimates ranging from $3.67 to $3.82. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was down 19.9% on a year-over-year basis.

Several brokerages have weighed in on PEG. Citigroup began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Monday, May 9th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b” rating in a research note on Monday, April 18th. Finally, Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Tuesday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Buy” and an average target price of $73.17.

NYSE PEG opened at $68.58 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.79 and a current ratio of 0.89. The firm’s 50 day moving average price is $69.64 and its 200-day moving average price is $66.47. Public Service Enterprise Group has a 52-week low of $58.96 and a 52-week high of $75.61. The company has a market cap of $34.24 billion, a PE ratio of -26.68, a P/E/G ratio of 4.70 and a beta of 0.54.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.15%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -84.05%.

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $68.95, for a total value of $681,432.85. Following the completion of the transaction, the chief executive officer now owns 464,270 shares of the company’s stock, valued at $32,011,416.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ralph A. Larossa sold 4,890 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $64.47, for a total transaction of $315,258.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,256 shares of company stock valued at $1,733,966. 0.55% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PEG. Moors & Cabot Inc. acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $26,000. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $27,000. TAP Consulting LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $28,000. Tcwp LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $28,000. Finally, First Community Trust NA acquired a new position in Public Service Enterprise Group during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 70.82% of the company’s stock.

Public Service Enterprise Group Company Profile (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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