Public Service Enterprise Group (NYSE:PEG) Issues Earnings Results, Beats Estimates By $0.01 EPS

Public Service Enterprise Group (NYSE:PEG) released its quarterly earnings data on Tuesday. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01, Zacks reports. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. 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 Performance

NYSE:PEG traded down $0.67 during mid-day trading on Thursday, reaching $82.26. The stock had a trading volume of 627,118 shares, compared to its average volume of 2,302,796. The business has a 50 day simple moving average of $84.90 and a 200 day simple moving average of $86.03. Public Service Enterprise Group has a twelve month low of $61.36 and a twelve month high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $40.98 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday. Scotiabank increased their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.50.

About Public Service Enterprise Group

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.