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

Public Service Enterprise Group (NYSE:PEG) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s 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 Down 0.8 %

NYSE PEG traded down $0.67 during midday trading on Thursday, hitting $82.26. 627,118 shares of the company traded hands, compared to its average volume of 2,302,796. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $40.98 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group has a 52 week low of $61.36 and a 52 week high of $95.22. The company’s 50-day simple moving average is $84.90 and its 200-day simple moving average is $86.03.

Public Service Enterprise Group Increases Dividend

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

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now 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 filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEG shares. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.