Public Service Enterprise Group (PEG) Releases Earnings Results, Beats Expectations By $0.03 EPS

Public Service Enterprise Group (PEG) reported quarterly earnings results on Friday, Apr-29-2016. The company said it had a profit of $0.91 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.88. Analysts expectations of $2692.87 million. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Public Service Enterprise Group. Company shares were Reiterated by Barclays on Mar 14, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Company shares were Reiterated by Argus on Feb 25, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $43 .

Public Service Enterprise Group opened for trading at $45.59 and hit $46.29 on the upside on Wednesday, eventually ending the session at $46.06, with a gain of 1.32% or 0.6 points. The heightened volatility saw the trading volume jump to 30,37,535 shares. Company has a market cap of $23,326 M.

In a different news, on Apr 4, 2016, Ralph Izzo (Chairman, President and CEO) sold 18,390 shares at $46.94 per share price. According to the SEC, on Feb 22, 2016, Tamara Louise Linde (EVP & General Counsel) sold 8,082 shares at $42.93 per share price. On Feb 17, 2016, Ralph A Larossa (President & COO – PSE&G) sold 30,400 shares at $41.88 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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