Brokerages expect Public Service Enterprise Group Inc. (NYSE:PEG) to post earnings per share of $0.90 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Public Service Enterprise Group’s earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.85. Public Service Enterprise Group posted earnings per share of $0.82 during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The business is scheduled to report its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Public Service Enterprise Group will report full-year earnings of $3.09 per share for the current financial year, with EPS estimates ranging from $3.07 to $3.12. For the next year, analysts anticipate that the company will report earnings of $3.27 per share, with EPS estimates ranging from $3.12 to $3.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Public Service Enterprise Group.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share.
Several analysts have recently weighed in on the stock. Mizuho restated a “hold” rating and set a $50.00 price objective on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Goldman Sachs Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $53.00 in a research report on Thursday, July 19th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 16th. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Citigroup boosted their price objective on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, July 9th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.83.
Public Service Enterprise Group stock traded up $0.34 during trading on Friday, reaching $52.75. The stock had a trading volume of 2,202,145 shares, compared to its average volume of 3,108,139. The company has a market capitalization of $26.67 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.86 and a beta of 0.36. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. Public Service Enterprise Group has a 52-week low of $45.05 and a 52-week high of $54.50.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.41%. Public Service Enterprise Group’s payout ratio is 61.43%.
In other news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $50.60, for a total value of $1,054,149.80. Following the transaction, the chairman now directly owns 557,716 shares of the company’s stock, valued at approximately $28,220,429.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 62,499 shares of company stock worth $3,269,739 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. American Research & Management Co. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $108,000. NuWave Investment Management LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $118,000. Squar Milner Financial Services LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $149,000. Cordasco Financial Network increased its stake in Public Service Enterprise Group by 63.1% in the 2nd quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,100 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $161,000. 66.53% of the stock is currently owned by institutional investors and hedge funds.
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; and 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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