Jefferies Lowers PEG 2011, 2012, 2013 EPS Estimates

Public Service Enterprise Group PEG 4Q10 operating EPS was $0.60, “below our estimate of $0.65 and in line with consensus of $0.62 and versus the year-ago's result of $0.66,” Jefferies reports. “We are reducing our 2011 EPS estimate by $0.10 to $2.60 to reflect increased customer shopping assumptions, higher depreciation and higher coal costs,” Jefferies writes. “The company initiated guidance for 2011 at between $2.50-$2.75.” “We are reducing our 2012 EPS estimate by $0.10 to $2.60,” Jefferies adds. “We are reducing our 2013 EPS estimate by $0.15 to $3.00.” Public Service Enterprise Group closed Tuesday at $32.23.