Zacks: Brokerages Expect Public Service Enterprise Group Inc. (NYSE:PEG) to Post $0.65 EPS

Brokerages predict that Public Service Enterprise Group Inc. (NYSE:PEG) will announce earnings per share of $0.65 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Public Service Enterprise Group’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.71. Public Service Enterprise Group posted earnings of $0.64 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The firm is expected to issue its next earnings report before the market opens on Tuesday, July 30th.

On average, analysts expect that Public Service Enterprise Group will report full-year earnings of $3.28 per share for the current year, with EPS estimates ranging from $3.25 to $3.35. For the next year, analysts forecast that the company will post earnings of $3.47 per share, with EPS estimates ranging from $3.34 to $3.58. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.08. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same period in the previous year, the company posted $0.97 earnings per share.

Several brokerages have issued reports on PEG. KeyCorp began coverage on Southern in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Morgan Stanley set a $18.00 target price on PG&E and gave the company a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. set a €54.00 ($62.79) target price on Axel Springer and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Mizuho boosted their target price on Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $60.75.

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 13,535 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the transaction, the executive vice president now directly owns 49,909 shares in the company, valued at approximately $2,996,536.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $58.78, for a total value of $3,080,483.46. Following the completion of the transaction, the chairman now owns 419,818 shares in the company, valued at $24,676,902.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,955 shares of company stock worth $10,410,947. 0.51% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PEG. Bessemer Group Inc. raised its position in Public Service Enterprise Group by 12.1% during the fourth quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 284 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Public Service Enterprise Group by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,933 shares of the utilities provider’s stock valued at $60,365,000 after acquiring an additional 72,965 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 81,967 shares of the utilities provider’s stock valued at $4,266,000 after purchasing an additional 2,242 shares during the period. ARP Americas LP bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $401,000. Finally, Captrust Financial Advisors raised its position in shares of Public Service Enterprise Group by 60.6% in the fourth quarter. Captrust Financial Advisors now owns 6,028 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 2,275 shares during the period. Institutional investors and hedge funds own 68.80% of the company’s stock.

Shares of PEG traded up $0.19 during mid-day trading on Friday, hitting $60.55. The stock had a trading volume of 1,902,100 shares, compared to its average volume of 2,707,738. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 3.22 and a beta of 0.38. The stock’s fifty day moving average price is $59.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.68. Public Service Enterprise Group has a 52 week low of $49.22 and a 52 week high of $61.63.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.10%. Public Service Enterprise Group’s payout ratio is 60.26%.

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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