Public Service Enterprise Group (PEG) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Public Service Enterprise Group (PEG) reported quarterly earnings results on Friday, Jul-29-2016. The company reported $0.57 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.58. Analysts expectations of $2347.30 million. During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Public Service Enterprise Group. Public Service Enterprise Group was Upgraded by Morgan Stanley to ” Equal-Weight” on Jul 13, 2016. Public Service Enterprise Group was Downgraded by BofA/Merrill to ” Underperform” on Jun 7, 2016.

Public Service Enterprise Group closed down -0.07 points or -0.16% at $45.08 with 25,66,467 shares getting traded on Thursday. Post opening the session at $45.07, the shares hit an intraday low of $44.99 and an intraday high of $45.31 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Investors should note that on Jul 19, 2016, Public Service Enterprise Group announced a cash dividend of $0.4100. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.

In a different news, on Jul 6, 2016, Ralph Izzo (Chairman, President and CEO) sold 43,313 shares at $46.40 per share price. According to the SEC, on Jun 16, 2016, Ralph A Larossa (President & COO – PSE&G) sold 35,824 shares at $44.36 per share price. On Jun 7, 2016, William Levis (Pres & COO, PSEG Power LLC) sold 70,000 shares at $43.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned subsidiaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G). The Company’s other direct wholly owned subsidiaries are PSEG Energy Holdings L.L.C. which owns and manages a portfolio of lease investments; PSEG Long Island LLC which operates the Long Island Power Authority’s (LIPA) transmission and distribution system under a contractual agreement and PSEG Services Corporation which provides certain management administrative and general services to PSEG and its subsidiaries.

Public Service Enterprise Group

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