$0.95 EPS Expected for Public Service Enterprise Group Inc. (NYSE:PEG) This Quarter

Brokerages expect that Public Service Enterprise Group Inc. (NYSE:PEG) will report $0.95 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Public Service Enterprise Group’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $1.13. Public Service Enterprise Group also reported earnings per share of $0.95 during the same quarter last year. The firm is expected to issue its next quarterly earnings results on Tuesday, October 29th.

On average, analysts expect that Public Service Enterprise Group will report full-year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.19 to $3.28. For the next fiscal year, analysts forecast that the company will report earnings of $3.38 per share, with EPS estimates ranging from $3.25 to $3.48. Zacks Investment Research’s earnings per share calculations 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 announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the company posted $0.64 earnings per share.

A number of equities research analysts have commented on PEG shares. JPMorgan Chase & Co. downgraded shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Mizuho increased their price objective on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Citigroup downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, July 29th. KeyCorp started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 price objective on the stock. Finally, Bank of America downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $62.41.

Shares of NYSE:PEG traded up $0.05 during trading hours on Friday, reaching $57.88. The stock had a trading volume of 1,253,757 shares, compared to its average volume of 2,573,362. Public Service Enterprise Group has a 1 year low of $49.22 and a 1 year high of $61.63. The business’s 50 day moving average is $59.34. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99. The stock has a market cap of $29.04 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 7.72 and a beta of 0.33.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

In other Public Service Enterprise Group news, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total transaction of $37,031.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.78, for a total transaction of $3,080,483.46. Following the transaction, the chairman now directly owns 419,818 shares in the company, valued at $24,676,902.04. The disclosure for this sale can be found here. Insiders have sold a total of 164,046 shares of company stock worth $9,530,682 over the last three months. 0.51% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in shares of Public Service Enterprise Group by 11.2% in the second quarter. Bank of Montreal Can now owns 448,469 shares of the utilities provider’s stock valued at $26,380,000 after purchasing an additional 45,058 shares during the period. Fortem Financial Group LLC raised its position in Public Service Enterprise Group by 1.0% during the second quarter. Fortem Financial Group LLC now owns 24,832 shares of the utilities provider’s stock worth $1,461,000 after acquiring an additional 256 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Public Service Enterprise Group during the second quarter worth about $2,953,000. San Francisco Sentry Investment Group CA raised its position in Public Service Enterprise Group by 357.4% during the second quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 747 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in Public Service Enterprise Group by 10.8% during the second quarter. Valley National Advisers Inc. now owns 10,273 shares of the utilities provider’s stock worth $604,000 after acquiring an additional 1,000 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Company Profile

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 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 to customers.

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