Public Service Enterprise Group (NYSE:PEG) Releases Quarterly 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 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11, Zacks reports. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%.

Public Service Enterprise Group Stock Performance

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEG. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Barclays upped their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on shares of 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.21.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Public Service Enterprise Group by 22.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,902 shares of the utilities provider’s stock valued at $497,000 after acquiring an additional 1,067 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in Public Service Enterprise Group by 23.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 4,643 shares of the utilities provider’s stock valued at $408,000 after acquiring an additional 874 shares during the last quarter. Jump Financial LLC lifted its holdings in Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after acquiring an additional 5,250 shares during the last quarter. Empowered Funds LLC lifted its holdings in Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 940 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Public Service Enterprise Group by 939.0% in the 2nd quarter. Headlands Technologies LLC now owns 4,000 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 3,615 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

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.