Public Service Enterprise Group (PEG) to Release Quarterly Earnings on Tuesday

Public Service Enterprise Group (NYSE:PEG) is set to announce its earnings results before the market opens on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Public Service Enterprise Group has set its FY24 guidance at $3.60-3.70 EPS and its FY 2024 guidance at 3.600-3.700 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. On average, analysts expect Public Service Enterprise Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $76.01 on Monday. The business’s fifty day moving average is $74.31 and its two-hundred day moving average is $67.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The firm has a market cap of $37.86 billion, a P/E ratio of 21.06, a P/E/G ratio of 3.00 and a beta of 0.59. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $77.46.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 3.16%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEG. Bank of America upped their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Evercore ISI lifted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.17.

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.