Public Service Enterprise Group (PEG) Updates FY18 Earnings Guidance

Public Service Enterprise Group (NYSE:PEG) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.05-3.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.11.

A number of brokerages have recently commented on PEG. ValuEngine raised Public Service Enterprise Group from a hold rating to a buy rating in a research report on Thursday, October 11th. UBS Group raised Public Service Enterprise Group from a neutral rating to a buy rating and boosted their price objective for the stock from $56.00 to $60.00 in a research report on Wednesday, October 10th. Deutsche Bank downgraded Public Service Enterprise Group from a buy rating to a hold rating in a report on Tuesday, July 3rd. Argus upped their price target on Public Service Enterprise Group from $60.00 to $63.00 and gave the company a buy rating in a report on Wednesday, October 17th. Finally, Morgan Stanley set a $59.00 price target on Public Service Enterprise Group and gave the company a buy rating in a report on Thursday, October 11th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $56.46.

PEG traded down $0.42 on Wednesday, reaching $53.95. The company’s stock had a trading volume of 2,096,892 shares, compared to its average volume of 3,414,133. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $27.48 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.32. Public Service Enterprise Group has a fifty-two week low of $46.19 and a fifty-two week high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same period in the prior year, the company posted $0.82 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group will post 3.11 EPS for the current fiscal year.

In other news, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the sale, the chairman now directly owns 558,073 shares of the company’s stock, valued at $29,337,897.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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; and 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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