Public Service Enterprise Group Incorporated (NYSE:PEG) issued its quarterly earnings results on Tuesday. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02), Bloomberg Earnings reports. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. Public Service Enterprise Group updated its FY17 guidance to $2.80-$3.00 EPS.

Public Service Enterprise Group (PEG) traded down 0.26% during mid-day trading on Tuesday, reaching $49.42. 306,291 shares of the company’s stock were exchanged. The company has a market capitalization of $25.00 billion, a P/E ratio of 55.53 and a beta of 0.38. Public Service Enterprise Group has a 52 week low of $39.28 and a 52 week high of $49.70. The company’s 50 day moving average price is $47.39 and its 200-day moving average price is $45.29.

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A number of research analysts recently issued reports on PEG shares. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, July 4th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. BidaskClub upgraded shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Citigroup Inc. reiterated a “neutral” rating and issued a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Finally, Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $50.42.

In other news, Chairman Ralph Izzo sold 6,427 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $49.45, for a total transaction of $317,815.15. Following the completion of the transaction, the chairman now directly owns 708,728 shares in the company, valued at approximately $35,046,599.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,640 shares of company stock valued at $7,225,740. Company insiders own 0.61% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Earnings History for Public Service Enterprise Group (NYSE:PEG)

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