Equities research analysts expect Public Service Enterprise Group Incorporated (NYSE:PEG) to announce earnings of $0.85 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Public Service Enterprise Group’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.86. Public Service Enterprise Group posted earnings of $0.88 per share during the same quarter last year, which would indicate a negative year over year growth rate of 3.4%. The company is scheduled to issue its next quarterly earnings report on Monday, October 30th.

On average, analysts expect that Public Service Enterprise Group will report full-year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $2.95. For the next year, analysts forecast that the business will report earnings of $2.94 per share, with EPS estimates ranging from $2.87 to $3.00. Zacks’ 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 released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the prior year, the company earned $0.57 earnings per share.

A number of equities analysts have issued reports on PEG shares. BidaskClub upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Citigroup Inc. reiterated a “neutral” rating and issued a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.21.

In other news, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the transaction, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The disclosure for this sale can be found here. Insiders have sold 54,900 shares of company stock valued at $2,413,947 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Cadence Bank NA increased its position in shares of Public Service Enterprise Group by 11.1% in the first quarter. Cadence Bank NA now owns 51,168 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 5,114 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Public Service Enterprise Group by 14.7% in the first quarter. Wells Fargo & Company MN now owns 2,235,976 shares of the utilities provider’s stock valued at $99,165,000 after buying an additional 286,496 shares during the last quarter. BB&T Corp boosted its stake in Public Service Enterprise Group by 6.4% in the first quarter. BB&T Corp now owns 13,686 shares of the utilities provider’s stock valued at $607,000 after buying an additional 818 shares during the period. Finally, Barrett Asset Management LLC boosted its stake in Public Service Enterprise Group by 35.6% in the first quarter. Barrett Asset Management LLC now owns 3,525 shares of the utilities provider’s stock valued at $156,000 after buying an additional 925 shares during the period. Hedge funds and other institutional investors own 65.96% of the company’s stock.

Public Service Enterprise Group (PEG) traded up 0.38% on Thursday, hitting $47.01. 239,024 shares of the stock traded hands. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 52.82 and a beta of 0.38. The stock has a 50-day moving average price of $44.92 and a 200 day moving average price of $44.41. Public Service Enterprise Group has a 1-year low of $39.28 and a 1-year high of $47.47.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.67%. Public Service Enterprise Group’s payout ratio is presently 193.26%.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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