Public Service Enterprise Group (NYSE:PEG) Announces Quarterly Earnings Results

Public Service Enterprise Group (NYSE:PEG) issued 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 return on equity of 12.42% and a net margin of 16.04%.

Public Service Enterprise Group Stock Up 0.0%

Shares of Public Service Enterprise Group stock opened at $74.30 on Monday. The stock has a 50-day moving average price of $71.20 and a 200 day moving average price of $78.04. The company has a market cap of $37.03 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.54 and a beta of 0.48. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 1 year low of $66.15 and a 1 year high of $87.63.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer owned 279,490 shares of the company’s stock, valued at $18,859,985.20. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This represents a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PEG shares. HSBC initiated coverage on Public Service Enterprise Group in a report on Thursday, October 22nd. They issued a “hold” rating and a $72.50 price target on the stock. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Royal Bank Of Canada cut their target price on Public Service Enterprise Group from $81.00 to $76.00 in a research report on Monday, October 26th. Finally, The Goldman Sachs Group decreased their price target on Public Service Enterprise Group from $86.00 to $83.00 in a research report on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.00.

Public Service Enterprise Group Company Profile

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.