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Wall Street brokerages expect Public Service Enterprise Group Incorporated (NYSE: PEG) to report earnings per share of $ 0.68 for the current fiscal quarter, Zacks investment research reports. Two analysts made estimates for Public Service Enterprise Group revenue, with estimates ranging from $ 0.63 to $ 0.76. Public Service Enterprise Group reported earnings per share of $ 0.65 for the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The company is expected to release its next quarterly earnings report on Friday, February 25.
According to Zacks, analysts expect Public Service Enterprise Group to report annual profit of $ 3.60 per share for the current year, with EPS estimates ranging from $ 3.57 to $ 3.64. For the next fiscal year, analysts expect the company to report earnings of $ 3.50 per share, with EPS estimates ranging from $ 3.45 to $ 3.55. Zacks EPS calculations are an average based on a survey of research analysts who follow Public Service Enterprise Group.
Public Service Enterprise Group (NYSE: PEG) last released its results on Tuesday, November 2. The utility provider announced EPS of $ 0.98 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.92 of $ 0.06. The company posted revenue of $ 1.90 billion in the quarter, compared to a consensus estimate of $ 2.66 billion. The Civil Service Enterprises Group recorded a positive return on equity of 11.77% and a negative net margin of 7.30%. In the same quarter of the previous year, the company achieved earnings per share of $ 0.96.
Several analysts recently commented on PEG shares. Morgan Stanley reduced its target price on Public Service Enterprise Group from $ 74.00 to $ 73.00 and set an “overweight” rating on the stock in a report released on Friday, September 17. Vertical Research Downgraded the Public Service Enterprise Group from a ‘Keep’ to a ‘Buy’ Rating and Raised its Target Price for the Company from $ 67.00 to $ 69.00 in a Released Report Wednesday September 29. Mizuho raised his price target on Public Service Enterprise Group from $ 66.00 to $ 67.00 and gave the stock a “buy” rating in a report released on Monday, October 11. BMO Capital Markets raised its price target on Public Service Enterprise Group from $ 65.00 to $ 67.00 and assigned the stock a “market performance†rating in a report released on Tuesday, September 28. They noted that the move was an appraisal call. Finally, KeyCorp raised its price target on Public Service Enterprise Group from $ 68.00 to $ 69.00 and rated the stock “overweight” in a report released on Tuesday, October 19. Two equity research analysts rated the stock with a conservation rating and eight issued a buy rating for the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy†and a consensus price target of $ 69.11.
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In addition, COO Ralph A. Larossa sold 4,890 shares in a trade on Wednesday, September 1. The stock was sold for an average price of $ 64.60, for a total value of $ 315,894.00. Following the completion of the sale, the COO now directly owns 75,533 shares of the company, valued at approximately $ 4,879,431.80. The transaction has been disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Additionally, CEO Ralph Izzo sold 9,883 shares in a trade on Friday, October 1. The shares were sold for an average price of $ 60.66, for a total value of $ 599,502.78. Disclosure of this sale can be found here. Insiders have sold 20,863 shares of the company valued at $ 1,304,876 in the past ninety days. 0.52% of the shares are held by insiders.
Institutional investors have recently changed their positions in the company. The Bank of Nova Scotia increased its position in Public Service Enterprise Group shares by 109.6% in the second quarter. The Bank of Nova Scotia now owns 280,978 shares of the utility company valued at $ 16,787,000 after purchasing an additional 146,909 shares in the last quarter. OLD Republic International Corp increased its stake in Public Service Enterprise Group by 82.4% in the 2nd quarter. OLD Republic International Corp now owns 1,217,500 shares of the utility company valued at $ 72,733,000 after purchasing an additional 550,000 shares during the period. Deutsche Bank AG increased its stake in Public Service Enterprise Group by 12.7% in the 2nd quarter. Deutsche Bank AG now owns 1,706,544 shares of the utility provider worth $ 101,948,000 after purchasing an additional 192,893 shares during the period. Voloridge Investment Management LLC increased its stake in Public Service Enterprise Group by 583.6% in the 1st quarter. Voloridge Investment Management LLC now owns 520,734 shares of the utility provider valued at $ 31,353,000 after purchasing an additional 444,559 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in Public Service Enterprise Group by 7.2% in the second quarter. Great Lakes Advisors LLC now owns 1,045,164 shares of the utility company valued at $ 62,438,000 after purchasing an additional 70,236 shares during the period. 69.75% of the shares are held by hedge funds and other institutional investors.
PEG shares opened at $ 62.19 on Friday. The company’s 50-day simple moving average is $ 62.26 and its 200-day simple moving average is $ 62.16. Public Service Enterprise Group has a one-year minimum of $ 53.77 and a one-year maximum of $ 65.33. The stock has a market cap of $ 31.44 billion, a PE ratio of -47.11, a PEG ratio of 5.04, and a beta of 0.56. The company has a leverage ratio of 1.03, a current ratio of 0.84, and a quick ratio of 0.75.
Company Profile of the Public Service Enterprise Group
Public Service Enterprise Group, Inc. is a holding company that provides electricity and gas services. The company operates through the following two segments: Public Service Electric & Gas Co (PSE & G) and PSEG Power. The PSE & G segment deals with the transmission of electricity and the distribution of electricity and natural gas.
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