Public Service Enterprise Group (NYSE:PEG) Posts Earnings Results, Beats Estimates By $0.11 EPS

Public Service Enterprise Group (NYSE:PEG) released its quarterly earnings results on Monday. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11, Zacks reports. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%.

Public Service Enterprise Group Trading Up 0.0%

Shares of PEG opened at $80.76 on Monday. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $95.22. The firm has a market capitalization of $40.30 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.46 and a beta of 0.53. The firm has a 50-day moving average price of $82.12 and a 200 day moving average price of $82.36. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEG. Benjamin Edwards Inc. lifted its stake in shares of Public Service Enterprise Group by 4.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 134 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Public Service Enterprise Group by 2.2% in the second quarter. IHT Wealth Management LLC now owns 7,958 shares of the utilities provider’s stock valued at $670,000 after acquiring an additional 169 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Public Service Enterprise Group by 1.0% in the 2nd quarter. Tidal Investments LLC now owns 20,656 shares of the utilities provider’s stock valued at $1,739,000 after purchasing an additional 198 shares during the last quarter. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Finally, Engineers Gate Manager LP boosted its stake in Public Service Enterprise Group by 2.2% during the 2nd quarter. Engineers Gate Manager LP now owns 18,593 shares of the utilities provider’s stock worth $1,565,000 after purchasing an additional 404 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays lifted their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. Finally, Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $91.21.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.