Public Service Enterprise Group (NYSE:PEG) announced its earnings results on Wednesday. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02, RTT News reports. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. During the same quarter in the previous year, the company posted $0.56 earnings per share. Public Service Enterprise Group updated its FY 2020
Pre-Market guidance to 3.30-3.50 EPS.
Shares of NYSE:PEG opened at $54.62 on Thursday. Public Service Enterprise Group has a one year low of $55.27 and a one year high of $63.88. The company has a 50 day moving average of $59.06 and a 200-day moving average of $60.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.75 and a quick ratio of 0.52. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 4.86 and a beta of 0.26.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.49 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.59%. Public Service Enterprise Group’s payout ratio is currently 60.26%.
PEG has been the subject of several research reports. Citigroup raised their price objective on shares of Public Service Enterprise Group from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, February 19th. They issued a “market perform” rating and a $63.00 price objective for the company. Vertical Research initiated coverage on shares of Public Service Enterprise Group in a research report on Monday. They issued a “hold” rating and a $65.00 price objective for the company. Wolfe Research cut shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price objective for the company. in a research report on Thursday, November 14th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $64.00.
In other news, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $58.55, for a total transaction of $96,607.50. Following the completion of the sale, the chief operating officer now owns 76,069 shares in the company, valued at approximately $4,453,839.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $58.59, for a total transaction of $36,618.75. Following the sale, the chief financial officer now owns 54,648 shares of the company’s stock, valued at approximately $3,201,826.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,125 shares of company stock valued at $241,849. 0.51% of the stock is owned by corporate insiders.
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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