Public Service Enterprise Group (NYSE:PEG – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.600-3.700 for the period, compared to the consensus earnings per share estimate of 3.670. The company issued revenue guidance of -. Public Service Enterprise Group also updated its FY24 guidance to $3.60-3.70 EPS.
Analyst Upgrades and Downgrades
Several research firms have issued reports on PEG. Scotiabank dropped their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a sector perform rating for the company in a research note on Monday, April 22nd. Bank of America raised their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a buy rating in a report on Thursday, June 6th. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating on the stock in a research report on Monday, June 24th. Finally, Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a buy rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of Moderate Buy and an average target price of $74.17.
Get Our Latest Stock Analysis on Public Service Enterprise Group
Public Service Enterprise Group Stock Down 0.1 %
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.78%. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group will post 3.68 earnings per share for the current year.
Public Service Enterprise Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.
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.
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