Public Service Enterprise Group (NYSE:PEG) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Public Service Enterprise Group (NYSE:PEG) issued its quarterly earnings data on Tuesday. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06, Zacks reports. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. Public Service Enterprise Group updated its FY 2026 guidance to 4.280-4.400 EPS.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded down $0.91 during midday trading on Tuesday, reaching $75.72. The stock had a trading volume of 2,200,547 shares, compared to its average volume of 2,918,752. Public Service Enterprise Group has a 12 month low of $74.20 and a 12 month high of $91.25. The firm’s 50-day moving average price is $79.67 and its 200 day moving average price is $80.82. The firm has a market capitalization of $37.73 billion, a PE ratio of 16.75, a P/E/G ratio of 2.89 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEG. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.25.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,201 shares of company stock valued at $576,984 in the last quarter. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. State Street Corp raised its holdings in Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after buying an additional 762,591 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after buying an additional 715,051 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Public Service Enterprise Group by 256.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 907,750 shares of the utilities provider’s stock valued at $72,892,000 after buying an additional 653,366 shares during the period. Finally, Man Group plc boosted its position in Public Service Enterprise Group by 224.2% during the 4th quarter. Man Group plc now owns 816,648 shares of the utilities provider’s stock valued at $65,577,000 after buying an additional 564,718 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.