Jefferies Raises Numbers on Public Service Enterprise (PEG) Following Q1
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Price: $75.61 -0.57%
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies boosted estimates and its price target on Public Service Enterprise Group Inc. (NYSE: PEG) from $33 to $35 following better Q1 results.
The firm comments, "1Q12 operating earnings of $0.85 were above consensus and included $0.11 of non-recurring tax benefits arising from a settlement with the IRS. Excluding the tax benefit, earnings were down due to lower volumes and margins at PSEG Power partly offset by improved results at the utility. The National Park Service will likely approve the company's proposed Susquehanna-Roseland transmission line later this year."
FY12 EPS goes from $2.35 to $2.45.
For an analyst ratings summary and ratings history on Public Service Enterprise Group Inc. click here. For more ratings news on Public Service Enterprise Group Inc. click here.
Shares of Public Service Enterprise Group Inc. closed at $31.39 yesterday.
The firm comments, "1Q12 operating earnings of $0.85 were above consensus and included $0.11 of non-recurring tax benefits arising from a settlement with the IRS. Excluding the tax benefit, earnings were down due to lower volumes and margins at PSEG Power partly offset by improved results at the utility. The National Park Service will likely approve the company's proposed Susquehanna-Roseland transmission line later this year."
FY12 EPS goes from $2.35 to $2.45.
For an analyst ratings summary and ratings history on Public Service Enterprise Group Inc. click here. For more ratings news on Public Service Enterprise Group Inc. click here.
Shares of Public Service Enterprise Group Inc. closed at $31.39 yesterday.
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