Equities analysts expect Public Service Enterprise Group Incorporated (NYSE:PEG) to post earnings per share of $0.57 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Public Service Enterprise Group’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.55. Public Service Enterprise Group also posted earnings of $0.57 per share during the same quarter last year. The firm is expected to report its next quarterly earnings results before the market opens on Friday, July 28th.
According to Zacks, analysts expect that Public Service Enterprise Group will report full year earnings of $2.90 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $2.95. For the next year, analysts expect that the company will report earnings of $2.92 per share, with EPS estimates ranging from $2.85 to $3.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Public Service Enterprise Group.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted $0.91 EPS.
Several equities analysts have recently commented on PEG shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Deutsche Bank AG lowered their price objective on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, April 11th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Barclays PLC lowered their price objective on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $47.10.
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In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 24,021 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,021 shares of company stock valued at $3,733,335. 0.61% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in PEG. Denali Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 7.7% in the first quarter. Denali Advisors LLC now owns 161,930 shares of the utilities provider’s stock worth $7,182,000 after buying an additional 11,591 shares during the period. CENTRAL TRUST Co boosted its stake in shares of Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock worth $147,000 after buying an additional 314 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Public Service Enterprise Group by 3.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 440,685 shares of the utilities provider’s stock worth $19,543,000 after buying an additional 14,760 shares during the period. Private Asset Management Inc. boosted its stake in shares of Public Service Enterprise Group by 2.3% in the first quarter. Private Asset Management Inc. now owns 7,364 shares of the utilities provider’s stock worth $327,000 after buying an additional 167 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $5,372,000. Institutional investors and hedge funds own 66.17% of the company’s stock.
Shares of Public Service Enterprise Group (NYSE:PEG) traded down 0.39% during mid-day trading on Tuesday, reaching $43.86. The company’s stock had a trading volume of 3,566,739 shares. The company’s 50-day moving average is $43.56 and its 200 day moving average is $44.05. Public Service Enterprise Group has a 12 month low of $39.28 and a 12 month high of $46.49. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 42.17 and a beta of 0.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is currently 165.39%.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.
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