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

Public Service Enterprise Group (NYSE:PEG) released its quarterly earnings data on Tuesday. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01, Zacks reports. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. 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 Trading Down 1.3 %

Shares of Public Service Enterprise Group stock opened at $83.23 on Wednesday. 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 stock has a market capitalization of $41.47 billion, a PE ratio of 20.45, a P/E/G ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group has a 1-year low of $59.29 and a 1-year high of $95.22. The company’s fifty day simple moving average is $84.91 and its 200-day simple moving average is $86.05.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.92%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEG shares. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank upped 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. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by insiders.

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.