Public Service Enterprise Group (PEG) Posts Earnings Results, Beats Expectations By $0.01 EPS

Public Service Enterprise Group (NYSE:PEG) issued its earnings results on Friday. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01, Bloomberg Earnings reports. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. During the same quarter last year, the company earned $0.54 earnings per share. Public Service Enterprise Group updated its FY18 guidance to $3.00-3.20 EPS.

Public Service Enterprise Group (NYSE:PEG) traded up $1.20 on Friday, hitting $50.38. 910,755 shares of the stock traded hands, compared to its average volume of 3,633,511. Public Service Enterprise Group has a 12-month low of $41.67 and a 12-month high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24,558.06, a P/E ratio of 47.75, a P/E/G ratio of 4.12 and a beta of 0.39.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 3.57%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.43. Public Service Enterprise Group’s dividend payout ratio is 166.99%.

A number of analysts have recently issued reports on PEG shares. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, February 13th. Guggenheim reiterated a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. Mizuho downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a report on Monday, February 5th. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, February 2nd. They issued a “neutral” rating and a $52.00 target price for the company. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.04.

In other news, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $51.25, for a total transaction of $1,067,691.25. Following the transaction, the chairman now owns 645,934 shares in the company, valued at $33,104,117.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 62,499 shares of company stock worth $3,232,240. Corporate insiders own 0.61% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in Public Service Enterprise Group by 239.4% in the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock valued at $101,190,000 after buying an additional 1,543,256 shares during the last quarter. Jennison Associates LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $69,638,000. Amundi Pioneer Asset Management Inc. boosted its position in Public Service Enterprise Group by 258.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,798,069 shares of the utilities provider’s stock valued at $92,601,000 after buying an additional 1,296,790 shares during the last quarter. State of Tennessee Treasury Department boosted its position in Public Service Enterprise Group by 646.7% in the fourth quarter. State of Tennessee Treasury Department now owns 1,175,992 shares of the utilities provider’s stock valued at $60,564,000 after buying an additional 1,018,491 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Public Service Enterprise Group by 14.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,947,022 shares of the utilities provider’s stock valued at $357,772,000 after buying an additional 892,228 shares during the last quarter. Hedge funds and other institutional investors own 66.78% of the company’s stock.

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About Public Service Enterprise Group

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.

Earnings History for Public Service Enterprise Group (NYSE:PEG)

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