Newark, NJ-based Public Service Enterprise Group Inc. PEG 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 first quarter Zacks Consensus Estimate for earnings of 89 cents per share has increased by 1 cent over the last 7 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 4.28%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank#2 (Buy) but that could change following its first 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 surpassed earnings estimate. Operating earnings per share came in at 91 cents, beating the Zacks Consensus Estimate of 89 cents by 2.2%.
Revenue: Revenues of $2,616 million surpassed the Zacks Consensus Estimate of $2,497 million by 4.8%.
Key Stats: During the reported quarter, Electric sales volume decreased 6.3% year over year to 9,734 million kilowatt-hours, while Gas sales volume decreased 20% to 1,495 million therms.
Guidance: The company reiterated its 2016 earnings to fall in between $2.80 and $3.00 per share.
Stock Price: It would be interesting to see how the market reacts to the first quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
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