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

Public Service Enterprise Group (NYSE:PEG) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Public Service Enterprise Group to post earnings of $1.26 per share for the quarter. Public Service Enterprise Group has set its FY24 guidance at $3.60-3.70 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. 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 Stock Performance

NYSE:PEG opened at $67.82 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $68.39. The stock has a market cap of $33.81 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The firm’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $62.32.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEG. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Scotiabank decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.15.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock worth $511,814 in the last three months. Company insiders own 0.57% of the company’s stock.

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.