$0.97 Earnings Per Share Expected for Public Service Enterprise Group Inc. (NYSE:PEG) This Quarter

Brokerages expect that Public Service Enterprise Group Inc. (NYSE:PEG) will announce earnings of $0.97 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Public Service Enterprise Group’s earnings. The highest EPS estimate is $1.05 and the lowest is $0.94. Public Service Enterprise Group posted earnings of $0.95 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 31st.

On average, analysts expect that Public Service Enterprise Group will report full year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.20 to $3.25. For the next year, analysts expect that the business will post earnings of $3.39 per share, with EPS estimates ranging from $3.27 to $3.54. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company earned $0.64 EPS.

PEG has been the subject of several recent research reports. Bank of America cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Friday, July 19th. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, August 13th. They set an “overweight” rating and a $63.00 target price for the company. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 3rd. Finally, UBS Group increased their target price on shares of Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

PEG traded up $0.24 during trading hours on Friday, hitting $62.29. 1,787,575 shares of the company’s stock were exchanged, compared to its average volume of 2,527,292. Public Service Enterprise Group has a 1-year low of $49.22 and a 1-year high of $63.88. The stock’s 50-day moving average is $61.42 and its two-hundred day moving average is $59.86. The stock has a market cap of $31.28 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 6.34 and a beta of 0.30. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $61.66, for a total value of $101,739.00. Following the completion of the sale, the chief operating officer now owns 78,928 shares in the company, valued at $4,866,700.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $60.82, for a total transaction of $38,012.50. Following the completion of the sale, the chief financial officer now owns 59,137 shares of the company’s stock, valued at approximately $3,596,712.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,608 shares of company stock valued at $3,548,667. Corporate insiders own 0.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PEG. Cornerstone Advisors Inc. raised its position in shares of Public Service Enterprise Group by 15.7% in the second quarter. Cornerstone Advisors Inc. now owns 1,256 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC raised its position in shares of Public Service Enterprise Group by 2.5% in the second quarter. Capital Investment Advisors LLC now owns 6,860 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 170 shares during the period. Bessemer Group Inc. raised its position in shares of Public Service Enterprise Group by 6.7% in the second quarter. Bessemer Group Inc. now owns 2,896 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 182 shares during the period. ELCO Management Co. LLC raised its position in shares of Public Service Enterprise Group by 2.7% in the second quarter. ELCO Management Co. LLC now owns 7,498 shares of the utilities provider’s stock valued at $441,000 after purchasing an additional 198 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Public Service Enterprise Group by 79.0% in the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 69.44% of the company’s stock.

About Public Service Enterprise Group

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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