Public Service Enterprise Group (NYSE:PEG) Issues Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Public Service Enterprise Group reported quarterly EPS of $1.15, missing the consensus estimate of $1.19 by $0.04. The company posted a 16.04% net margin and 12.42% return on equity.
• Analysts generally remain cautious, with a consensus “Hold” rating and an $80 price target; several firms recently lowered their targets.
• Company insiders sold shares, including CEO Ralph LaRossa and SVP Richard Thigpen, while insiders collectively own just 0.19% of the stock.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) announced its quarterly earnings results on Monday. The utilities provider reported $1.15 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.04), Zacks reports. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%.

Public Service Enterprise Group Trading Up 0.0%

NYSE PEG opened at $74.30 on Monday. The company has a market capitalization of $37.03 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48. Public Service Enterprise Group has a 12 month low of $66.15 and a 12 month high of $87.63. The company's fifty day moving average price is $71.20 and its two-hundred day moving average price is $78.04. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67.

Insider Buying and Selling

In related news, CEO Ralph LaRossa sold 2,083 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the sale, the chief executive officer directly owned 279,490 shares of the company's stock, valued at approximately $18,859,985.20. This represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president directly owned 20,970 shares of the company's stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a "neutral" rating on the stock in a research report on Monday, October 19th. Jefferies Financial Group cut their price objective on Public Service Enterprise Group from $73.00 to $69.00 and set a "hold" rating for the company in a research report on Friday, October 9th. The Goldman Sachs Group lowered their target price on Public Service Enterprise Group from $86.00 to $83.00 in a report on Thursday, October 15th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $88.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Hold" and a consensus price target of $80.00.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated NYSE: PEG, commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG's principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.

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