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Public Service Enterprise Group Incorporated (PEG) - free report >>
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Public Service Enterprise Group Incorporated (PEG) - free report >>
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Public Service Enterprise (PEG) Meets Q2 Earnings Estimate
Newark, NJ-based Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.
Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.
The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of 57 cents per share has decreased by 3 cents over the last 30 days.
Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in all of the last four quarters, resulting in a positive average surprise of 3.31%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank#3 (Hold) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise reported operating earnings per share of 57 cents, in line with the Zacks Consensus Estimate.
Revenue: Revenues of $1,905 million missed the Zacks Consensus Estimate of $2,219.6 million by 14.2%.
Key Stats: During the reported quarter, Electric sales volume decreased 2.1% year over year to 9,662 million kilowatt-hours, while Gas sales volume decreased 1.7% to 844 million therms.
Guidance: The company reiterated its 2016 earnings in the range of $2.80 and $3.00 per share.
Stock Price: It would be interesting to see how the market reacts to the second quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
PUBLIC SV ENTRP Price and EPS Surprise
PUBLIC SV ENTRP Price and EPS Surprise | PUBLIC SV ENTRP Quote
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