Equities analysts forecast that Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) will post $2.54 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Public Service Enterprise Group’s earnings, with estimates ranging from $2.04 billion to $3.02 billion. Public Service Enterprise Group posted sales of $2.89 billion during the same quarter last year, which would indicate a negative year over year growth rate of 12.1%. The company is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Public Service Enterprise Group will report full year sales of $9.15 billion for the current year, with estimates ranging from $8.35 billion to $10.04 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.56 billion, with estimates ranging from $9.01 billion to $10.31 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Public Service Enterprise Group.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its earnings results on Thursday, February 24th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a positive return on equity of 12.22% and a negative net margin of 6.67%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS.
In other news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $66.17, for a total transaction of $323,571.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $70.44, for a total transaction of $696,158.52. Following the completion of the sale, the chief executive officer now owns 474,153 shares of the company’s stock, valued at approximately $33,399,337.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,146 shares of company stock valued at $2,029,395. 0.55% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Gateway Investment Advisers LLC increased its holdings in Public Service Enterprise Group by 10.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 455,661 shares of the utilities provider’s stock valued at $30,406,000 after buying an additional 44,510 shares during the period. CIBC Asset Management Inc increased its stake in Public Service Enterprise Group by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 86,445 shares of the utilities provider’s stock valued at $5,768,000 after acquiring an additional 1,499 shares during the period. Oxford Financial Group Ltd. raised its position in Public Service Enterprise Group by 5.9% in the third quarter. Oxford Financial Group Ltd. now owns 5,405 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 300 shares in the last quarter. Desjardins Global Asset Management Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth about $470,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $1,113,000. 70.69% of the stock is owned by hedge funds and other institutional investors.
Shares of PEG stock traded down $1.49 on Monday, reaching $69.66. 2,958,163 shares of the company’s stock traded hands, compared to its average volume of 2,903,422. Public Service Enterprise Group has a 12-month low of $58.96 and a 12-month high of $75.61. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.78 and a current ratio of 0.88. The business’s 50 day moving average price is $68.91 and its two-hundred day moving average price is $66.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, June 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.10%. Public Service Enterprise Group’s dividend payout ratio is presently -167.44%.
About Public Service Enterprise Group (Get Rating)
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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