NEW YORK (TheStreet) -- Public Service Enterprise Group (PEG) stock is up 3.05% to $41.51 on heavy volume in afternoon trading Friday, after the energy holding company released its 2014 fourth quarter earnings results before the opening bell this morning.
For the fourth quarter, the company reported earnings of 49 cents per share, matching what it posted in the year ago quarter, and higher than the 46 cents analysts had expected.
Revenue of $2.77 billion in the period was up from the $2.32 billion it reported in the same quarter of last year, and also topped analysts' expectations of $2.58 billion.
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For the full year 2014, the company reported a profit of $1.52 billion, or $2.99 per share, on revenue of $10.89 billion.
PSEG says it now expects full year 2015 earnings in a range of between $2.75 to $2.95 per share.
About 3.34 million shares of the energy company exchanged hands as of 1:24 p.m. ET today, compared to its average trading volume of about 3.19 million shares a day.
Newark, NJ-based Public Service Enterprise Group conducts its business through three direct wholly owned subsidiaries including Power, PSE&G and PSEG Energy Holdings.
Separately, TheStreet Ratings team rates PUBLIC SERVICE ENTRP GRP INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate PUBLIC SERVICE ENTRP GRP INC (PEG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: PEG Ratings Report