Public Service Enterprise Group (PEG) Announces Quarterly Results
Public Service Enterprise Group (NYSE:PEG) released its earnings data on Wednesday. The company reported $0.49 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.51 by $0.02, Analyst Ratings Network.com reports. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, July 23rd. They now have a $50.00 price target on the stock, up previously from $44.00. On the ratings front, analysts at Macquarie cut their price target on shares of Public Service Enterprise Group from $39.00 to $38.00 in a research note on Monday, July 21st. Finally, analysts at Argus upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 16th. They now have a $44.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Hold” and an average target price of $39.75.
Shares of Public Service Enterprise Group (NYSE:PEG) traded down 0.27% during mid-day trading on Wednesday, hitting $36.96. 353,949 shares of the company’s stock traded hands. Public Service Enterprise Group has a 52-week low of $31.25 and a 52-week high of $41.38. The stock has a 50-day moving average of $38.38 and a 200-day moving average of $37.14. The company has a market cap of $18.699 billion and a P/E ratio of 14.36. Public Service Enterprise Group also saw a large decline in short interest in July. As of July 15th, there was short interest totalling 16,672,660 shares, a decline of 25.2% from the June 30th total of 22,294,907 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 3,835,370 shares, the short-interest ratio is presently 4.3 days.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Saturday, September 6th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Public Service Enterprise Group Incorporated (NYSE:PEG) is an energy company.
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