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

Public Service Enterprise Group (NYSE:PEG) posted its quarterly earnings results on Monday. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%

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

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard Thigpen sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at $18,859,985.20. This represents a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEG. The Goldman Sachs Group reduced their price objective on Public Service Enterprise Group from $86.00 to $83.00 in a research report on Thursday, October 15th. Barclays reduced their price target on Public Service Enterprise Group from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.00.

About Public Service Enterprise Group

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.