Public Service Enterprise Group Inc. (PEG) Expected to Post Quarterly Sales of $2.78 Billion

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Analysts expect Public Service Enterprise Group Inc. (NYSE:PEG) to report sales of $2.78 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Public Service Enterprise Group’s earnings, with the highest sales estimate coming in at $3.07 billion and the lowest estimate coming in at $2.49 billion. Public Service Enterprise Group reported sales of $2.82 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, May 2nd.

According to Zacks, analysts expect that Public Service Enterprise Group will report full year sales of $10.44 billion for the current fiscal year, with estimates ranging from $9.63 billion to $11.23 billion. For the next financial year, analysts expect that the company will post sales of $10.79 billion, with estimates ranging from $10.18 billion to $11.43 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. During the same period last year, the firm earned $0.57 earnings per share.

A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, January 17th. ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Wolfe Research raised shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 22nd. Finally, Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective for the company. in a report on Thursday, February 28th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $59.10.

Shares of Public Service Enterprise Group stock traded down $0.06 during trading on Friday, hitting $58.69. 76,166 shares of the stock were exchanged, compared to its average volume of 2,356,670. The firm has a market capitalization of $30.29 billion, a PE ratio of 18.81, a P/E/G ratio of 2.95 and a beta of 0.41. Public Service Enterprise Group has a 1-year low of $49.02 and a 1-year high of $60.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.20%. Public Service Enterprise Group’s payout ratio is presently 60.26%.

In related news, VP Stuart J. Black sold 6,000 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the transaction, the vice president now directly owns 24,981 shares of the company’s stock, valued at $1,475,627.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction on Friday, February 1st. The stock was sold at an average price of $54.31, for a total transaction of $2,846,224.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,755 shares of company stock valued at $10,174,717. 0.51% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rench Wealth Management Inc. increased its stake in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Rench Wealth Management Inc. now owns 47,960 shares of the utilities provider’s stock worth $2,496,000 after buying an additional 182 shares during the period. Cetera Investment Advisers grew its position in shares of Public Service Enterprise Group by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 7,593 shares of the utilities provider’s stock worth $394,000 after buying an additional 200 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Public Service Enterprise Group by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the utilities provider’s stock worth $1,586,000 after buying an additional 200 shares during the period. Parallel Advisors LLC grew its position in shares of Public Service Enterprise Group by 7.7% in the 4th quarter. Parallel Advisors LLC now owns 3,207 shares of the utilities provider’s stock worth $166,000 after buying an additional 228 shares during the period. Finally, Copperwynd Financial LLC grew its position in shares of Public Service Enterprise Group by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 6,641 shares of the utilities provider’s stock worth $346,000 after buying an additional 236 shares during the period. 69.22% of the stock is currently owned by institutional investors.

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; 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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