Public Service Enterprise Group (NYSE:PEG) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Public Service Enterprise Group (NYSE:PEG) posted its quarterly earnings data on Friday. The utilities provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19, MarketWatch Earnings reports. Public Service Enterprise Group had a return on equity of 10.92% and a net margin of 14.59%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the business posted $0.58 EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. Public Service Enterprise Group updated its FY 2020
Pre-Market guidance to 3.30-3.50 EPS and its FY20 guidance to $3.30-3.50 EPS.

Shares of NYSE PEG traded up $3.55 during trading on Friday, hitting $55.94. 4,455,723 shares of the company traded hands, compared to its average volume of 2,320,479. Public Service Enterprise Group has a 1 year low of $34.75 and a 1 year high of $63.88. The company has a 50-day moving average price of $50.76 and a 200-day moving average price of $51.73. The firm has a market capitalization of $26.49 billion, a P/E ratio of 16.22, a P/E/G ratio of 4.53 and a beta of 0.56. The company has a quick ratio of 0.57, a current ratio of 0.72 and a debt-to-equity ratio of 0.94.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.96 annualized dividend and a dividend yield of 3.50%. Public Service Enterprise Group’s dividend payout ratio is presently 59.76%.

In related news, COO Ralph A. Larossa sold 1,919 shares of the company’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of $54.01, for a total transaction of $103,645.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rose M. Chernick sold 600 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $33,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,676 shares of company stock valued at $469,581 over the last three months. Corporate insiders own 0.48% of the company’s stock.

Several equities research analysts have issued reports on PEG shares. Seaport Global Securities began coverage on shares of Public Service Enterprise Group in a research note on Wednesday, May 20th. They set a “neutral” rating on the stock. Argus restated a “buy” rating and set a $75.00 target price on shares of Public Service Enterprise Group in a research report on Thursday, April 16th. Wells Fargo & Co lifted their target price on shares of Public Service Enterprise Group from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. They noted that the move was a valuation call. Mizuho lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $54.00 to $53.00 in a research note on Monday, April 20th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $61.31.

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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Earnings History for Public Service Enterprise Group (NYSE:PEG)

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