Public Service Enterprise Group (NYSE:PEG) Releases Earnings Results

Public Service Enterprise Group (NYSE:PEG) announced its quarterly earnings results on Tuesday. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01, Zacks reports. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Service Enterprise Group updated its FY25 guidance to $3.94-4.06 EPS and its FY 2025 guidance to 3.940-4.060 EPS.

Public Service Enterprise Group Stock Down 2.8 %

PEG traded down $2.38 during trading hours on Tuesday, reaching $81.98. 645,319 shares of the stock traded hands, compared to its average volume of 2,222,756. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The firm’s fifty day simple moving average is $84.95 and its two-hundred day simple moving average is $86.03. The company has a market cap of $40.84 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 61.92%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.