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

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

Here are the key takeaways from Public Service Enterprise Group’s conference call:

• PSEG reaffirmed its 2026 non-GAAP operating earnings guidance of $4.28–$4.40 per share and its 6%–8% annual earnings growth outlook through 2030, supported by ongoing utility investment and power-market opportunities.
• PSE&G’s utility earnings rose year over year as infrastructure modernization and energy-efficiency investments drove results. The company plans approximately $4.2 billion of regulated capital spending in 2026 and expects to file a base-rate case by year-end to support recovery of its expanding rate base.
• PSEG Power benefited from higher realized market prices, increased nuclear generation and stronger gas operations; its nuclear fleet achieved a 92% capacity factor. PJM’s elevated capacity prices and New Jersey’s new nuclear procurement law could create additional long-term opportunities, although new nuclear development remains a lengthy and risk-sensitive process.
• The company highlighted successful restoration of approximately 380,000 customers after severe July storms, with nearly all restored within 24 hours, as well as more than $1 billion in annual customer savings from its Clean Energy Future programs. PSEG also expects a prospective transmission cost-allocation change to provide about $65 million of annual customer benefits.
• PSEG reported second-quarter GAAP earnings of $0.67 per share, down from $1.17 a year earlier, while non-GAAP operating earnings increased to $0.86 from $0.77. Management also noted a potential future annual headwind of approximately $40 million from the loss of a transmission incentive beginning in 2027.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded down $0.68 on Tuesday, reaching $75.94. 2,411,469 shares of the company were exchanged, compared to its average volume of 2,921,642. The company has a 50-day moving average of $79.67 and a 200-day moving average of $80.82. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The firm has a market cap of $37.84 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51. Public Service Enterprise Group has a 1-year low of $74.20 and a 1-year high of $91.25.

Public Service Enterprise Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PEG shares. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Jefferies Financial Group reduced their price objective on shares of 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. Truist Financial upped their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.25.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group 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 completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders 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 Trading of Public Service Enterprise Group

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

Public Service Enterprise Group Company Profile

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.