Public Service Enterprise Group (NYSE:PEG – Get Free Report) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01), Briefing.com reports. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Public Service Enterprise Group updated its FY 2024 guidance to 3.600-3.700 EPS and its FY24 guidance to $3.60-3.70 EPS.
Public Service Enterprise Group Stock Up 2.3 %
PEG traded up $1.77 during midday trading on Wednesday, hitting $79.77. The company had a trading volume of 6,492,074 shares, compared to its average volume of 2,848,885. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $81.00. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $39.73 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 3.04 and a beta of 0.59. The stock’s 50 day moving average price is $74.42 and its 200 day moving average price is $67.95.
Public Service Enterprise Group Announces Dividend
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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.
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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.
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