Public Service Enterprise Group (NYSE:PEG) Updates FY20 Earnings Guidance

Public Service Enterprise Group (NYSE:PEG) updated its FY20 earnings guidance on Friday. The company provided EPS guidance of $3.30-3.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.35. Public Service Enterprise Group also updated its FY 2020
Pre-Market guidance to 3.30-3.50 EPS.

Several equities research analysts recently commented on PEG shares. Argus reissued a buy rating and issued a $75.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, April 16th. Bank of America downgraded shares of Public Service Enterprise Group from a buy rating to a neutral rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Tuesday, July 21st. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $64.00 to $66.00 and gave the company an overweight rating in a report on Friday, July 17th. 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 note on Thursday, April 30th. Finally, Wells Fargo & Co increased 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 report on Monday, July 13th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $61.31.

PEG stock traded up $3.55 during midday trading on Friday, hitting $55.94. The stock had a trading volume of 4,455,723 shares, compared to its average volume of 2,320,479. Public Service Enterprise Group has a 52 week low of $34.75 and a 52 week high of $63.88. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 0.94. The stock has a 50-day simple moving average of $50.76 and a 200 day simple moving average of $51.73. The firm has a market capitalization of $28.28 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 4.83 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. Public Service Enterprise Group had a net margin of 14.59% and a return on equity of 10.92%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the company posted $0.58 EPS. The business’s revenue was down 11.5% on a year-over-year basis. On average, equities analysts forecast that Public Service Enterprise Group will post 3.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.49 per share. The ex-dividend date 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 (DPR) is presently 59.76%.

In other Public Service Enterprise Group news, VP Rose M. Chernick sold 600 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $55.00, for a total value of $33,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ralph A. Larossa sold 5,757 shares of Public Service Enterprise Group stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $54.01, for a total transaction of $310,935.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,676 shares of company stock worth $469,581. 0.48% of the stock is owned by insiders.

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.

Further Reading: Derivative

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.