Analysts Anticipate Public Service Enterprise Group Incorporated (NYSE:PEG) Will Post Earnings of $1.07 Per Share

Brokerages expect that Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) will announce earnings of $1.07 per share for the current quarter, Zacks reports. Three analysts have made estimates for Public Service Enterprise Group’s earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $0.94. Public Service Enterprise Group reported earnings of $1.28 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.4%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Public Service Enterprise Group will report full year earnings of $3.51 per share for the current year, with EPS estimates ranging from $3.45 to $3.68. For the next year, analysts forecast that the business will post earnings of $3.91 per share, with EPS estimates ranging from $3.67 to $4.58. Zacks’ EPS averages are an average based on a survey of research analysts that cover Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a positive return on equity of 12.22% and a negative net margin of 6.67%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS.

Several analysts have issued reports on PEG shares. Evercore ISI upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Tuesday, January 25th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b” rating in a research note on Monday, April 18th. JPMorgan Chase & Co. raised Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $71.00 to $73.00 in a research note on Friday, January 7th. Morgan Stanley lifted their target price on Public Service Enterprise Group from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $72.91.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $66.17, for a total transaction of $323,571.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $66.15, for a total value of $653,760.45. The disclosure for this sale can be found here. In the last three months, insiders sold 30,146 shares of company stock valued at $2,029,395. 0.55% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in Public Service Enterprise Group by 0.8% during the fourth quarter. State Street Corp now owns 28,379,042 shares of the utilities provider’s stock worth $1,893,733,000 after purchasing an additional 219,401 shares during the period. Capital Research Global Investors lifted its holdings in shares of Public Service Enterprise Group by 24.0% during the fourth quarter. Capital Research Global Investors now owns 22,864,793 shares of the utilities provider’s stock worth $1,525,768,000 after buying an additional 4,425,830 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Public Service Enterprise Group by 40.3% during the fourth quarter. Nordea Investment Management AB now owns 9,775,333 shares of the utilities provider’s stock worth $647,714,000 after buying an additional 2,808,491 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 9,626,846 shares of the utilities provider’s stock worth $640,751,000 after buying an additional 133,384 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Public Service Enterprise Group by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,329,900 shares of the utilities provider’s stock worth $555,855,000 after buying an additional 640,728 shares during the last quarter. 70.69% of the stock is owned by hedge funds and other institutional investors.

NYSE PEG traded down $0.79 on Friday, hitting $73.88. 2,399,423 shares of the company were exchanged, compared to its average volume of 2,432,189. The company’s 50 day moving average price is $68.28 and its 200-day moving average price is $65.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.88 and a quick ratio of 0.78. The firm has a market capitalization of $37.09 billion, a P/E ratio of -57.27, a price-to-earnings-growth ratio of 4.95 and a beta of 0.57. Public Service Enterprise Group has a twelve month low of $58.96 and a twelve month high of $75.61.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, June 8th. This represents a $2.16 annualized dividend and a dividend yield of 2.92%. Public Service Enterprise Group’s payout ratio is -167.44%.

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.

See Also