Equities research analysts forecast that Public Service Enterprise Group Incorporated (NYSE:PEG) will report sales of $2.30 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Public Service Enterprise Group's earnings, with the highest sales estimate coming in at $2.34 billion and the lowest estimate coming in at $2.25 billion. Public Service Enterprise Group reported sales of $2.05 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The business is scheduled to report its next quarterly earnings results on Friday, July 30th.
According to Zacks, analysts expect that Public Service Enterprise Group will report full year sales of $10.00 billion for the current financial year, with estimates ranging from $9.00 billion to $10.77 billion. For the next year, analysts forecast that the firm will report sales of $10.24 billion, with estimates ranging from $9.23 billion to $10.85 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research analysts that cover Public Service Enterprise Group.
Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis.
PEG has been the subject of several research analyst reports. KeyCorp upped their price target on shares of Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, April 14th. Seaport Global Securities upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, May 24th. Seaport Res Ptn upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating in a report on Monday, May 24th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, April 20th. Finally, Barclays upped their price target on shares of Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Public Service Enterprise Group presently has an average rating of "Buy" and an average target price of $66.55.
In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $63.87, for a total transaction of $312,324.30. Over the last quarter, insiders have sold 15,464 shares of company stock valued at $973,073. Company insiders own 0.52% of the company's stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Public Service Enterprise Group by 1.1% during the 1st quarter. BlackRock Inc. now owns 51,569,927 shares of the utilities provider's stock worth $3,105,026,000 after acquiring an additional 554,884 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Public Service Enterprise Group by 15.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,192,545 shares of the utilities provider's stock valued at $1,817,893,000 after buying an additional 4,055,897 shares during the period. JPMorgan Chase & Co. increased its position in Public Service Enterprise Group by 3.7% in the 1st quarter. JPMorgan Chase & Co. now owns 8,952,158 shares of the utilities provider's stock valued at $539,010,000 after buying an additional 320,065 shares in the last quarter. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 2.8% in the 1st quarter. Geode Capital Management LLC now owns 8,756,575 shares of the utilities provider's stock valued at $525,844,000 after buying an additional 236,588 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Public Service Enterprise Group by 10.8% during the 4th quarter. Nordea Investment Management AB now owns 7,349,367 shares of the utilities provider's stock worth $428,468,000 after buying an additional 717,747 shares during the period. Hedge funds and other institutional investors own 70.06% of the company's stock.
Shares of NYSE:PEG opened at $61.63 on Friday. The business's fifty day moving average is $62.18. The firm has a market capitalization of $31.15 billion, a P/E ratio of 14.81, a PEG ratio of 5.04 and a beta of 0.54. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.94. Public Service Enterprise Group has a 52-week low of $46.70 and a 52-week high of $64.30.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 8th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, June 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.31%. Public Service Enterprise Group's payout ratio is currently 59.48%.
Public Service Enterprise Group Company Profile
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 PSEG 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.
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