Analysts Anticipate Public Service Enterprise Group Incorporated (NYSE:PEG) Will Post Quarterly Sales of $3.06 Billion

Analysts predict that Public Service Enterprise Group Incorporated (NYSE:PEG) will announce $3.06 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Public Service Enterprise Group’s earnings. The lowest sales estimate is $2.91 billion and the highest is $3.20 billion. Public Service Enterprise Group reported sales of $2.78 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The firm is scheduled to report its next quarterly earnings results before the market opens on Wednesday, May 5th.

According to Zacks, analysts expect that Public Service Enterprise Group will report full year sales of $9.97 billion for the current year, with estimates ranging from $8.93 billion to $10.77 billion. For the next year, analysts forecast that the company will post sales of $10.23 billion, with estimates ranging from $9.21 billion to $10.85 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Public Service Enterprise Group.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Thursday, February 25th. The utilities provider reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. Public Service Enterprise Group had a net margin of 19.74% and a return on equity of 11.30%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the company earned $0.64 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $64.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $67.50 in a research note on Thursday, April 29th. The Goldman Sachs Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Thursday, January 14th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Finally, KeyCorp upped their target price on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.94.

PEG opened at $63.19 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $61.08 and its 200-day moving average is $58.72. The stock has a market cap of $31.92 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 6.10 and a beta of 0.49. Public Service Enterprise Group has a twelve month low of $43.87 and a twelve month high of $64.30.

The business 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 $0.51 dividend. The ex-dividend date is Monday, June 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.23%. Public Service Enterprise Group’s dividend payout ratio is currently 62.20%.

In other news, COO Ralph A. Larossa sold 4,890 shares of the firm’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $63.30, for a total transaction of $309,537.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 6,087 shares of company stock valued at $380,694 in the last quarter. Insiders own 0.48% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Public Service Enterprise Group by 2.8% during the 4th quarter. BlackRock Inc. now owns 51,015,043 shares of the utilities provider’s stock worth $2,974,179,000 after purchasing an additional 1,367,836 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Public Service Enterprise Group by 188.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,136,648 shares of the utilities provider’s stock worth $1,523,767,000 after acquiring an additional 17,069,173 shares during the period. Nordea Investment Management AB grew 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 valued at $428,468,000 after acquiring an additional 717,747 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Public Service Enterprise Group by 55.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,430,521 shares of the utilities provider’s stock valued at $200,000,000 after purchasing an additional 1,227,917 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Public Service Enterprise Group by 12.4% in the fourth quarter. Federated Hermes Inc. now owns 2,581,300 shares of the utilities provider’s stock worth $150,490,000 after purchasing an additional 285,613 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Public Service Enterprise Group (NYSE:PEG)

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