Wall Street analysts forecast that Public Service Enterprise Group Inc. (NYSE:PEG) will post earnings of $0.65 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Public Service Enterprise Group’s earnings. The highest EPS estimate is $0.71 and the lowest is $0.61. Public Service Enterprise Group posted earnings per share of $0.64 in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is expected to report its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Public Service Enterprise Group will report full year earnings of $3.27 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.32. For the next financial year, analysts expect that the company will report earnings of $3.48 per share, with EPS estimates ranging from $3.36 to $3.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. During the same period in the prior year, the business posted $0.97 earnings per share.

A number of analysts have recently weighed in on PEG shares. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Deutsche Bank lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 target price for the company. in a report on Thursday, February 28th. Wells Fargo & Co increased their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Mizuho increased their target price on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $59.96.

Shares of Public Service Enterprise Group stock traded up $0.59 during trading on Monday, reaching $59.35. 184,400 shares of the stock were exchanged, compared to its average volume of 1,889,523. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The firm has a market cap of $29.70 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.03 and a beta of 0.41. Public Service Enterprise Group has a 1 year low of $49.22 and a 1 year high of $61.63.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, June 6th. Public Service Enterprise Group’s payout ratio is currently 60.26%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.20, for a total transaction of $97,680.00. Following the completion of the transaction, the chief operating officer now owns 86,718 shares of the company’s stock, valued at $5,133,705.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total transaction of $37,031.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,273 shares of company stock valued at $7,207,422. 0.51% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $179,057,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Public Service Enterprise Group by 5,062.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,859,627 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 2,804,229 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at about $147,966,000. Nordea Investment Management AB boosted its position in Public Service Enterprise Group by 42.7% in the 1st quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock valued at $385,966,000 after buying an additional 1,942,914 shares during the period. Finally, Zimmer Partners LP boosted its position in Public Service Enterprise Group by 79.6% in the 1st quarter. Zimmer Partners LP now owns 4,044,720 shares of the utilities provider’s stock valued at $240,297,000 after buying an additional 1,793,031 shares during the period. 68.83% of the stock is owned by institutional investors.

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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