Public Service Enterprise Group Incorporated (PEG) Releases FY17 Earnings Guidance

Public Service Enterprise Group Incorporated (NYSE:PEG) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.80-$3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.92.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 49.55 on Tuesday. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $49.64. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 55.67 and a beta of 0.38. The company’s 50 day moving average price is $47.39 and its 200-day moving average price is $45.29.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

Several equities analysts recently weighed in on PEG shares. BidaskClub raised Public Service Enterprise Group from a hold rating to a buy rating in a research report on Saturday, August 26th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $51.00 to $53.00 and gave the company an equal weight rating in a research note on Friday, September 8th. Zacks Investment Research upgraded Public Service Enterprise Group from a hold rating to a buy rating and set a $50.00 price objective on the stock in a research note on Tuesday, August 1st. Mizuho upgraded Public Service Enterprise Group from a neutral rating to a buy rating and upped their price objective for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co upped their price objective on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an overweight rating in a research note on Thursday, October 12th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $50.42.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $46.50, for a total transaction of $968,734.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the business’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 disclosure for this sale can be found here. Insiders sold 148,640 shares of company stock worth $7,225,740 over the last three months. 0.61% of the stock is currently owned by insiders.

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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.

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