Public Service Enterprise Group (PEG) to Release Earnings on Tuesday

Public Service Enterprise Group (NYSE:PEG) is scheduled to be announcing its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.26 per share for the quarter. Public Service Enterprise Group has set its FY24 guidance at $3.60-3.70 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 17.0% on a year-over-year basis. On average, analysts expect Public Service Enterprise Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Public Service Enterprise Group Trading Down 0.4 %

NYSE:PEG opened at $67.82 on Monday. Public Service Enterprise Group has a 1-year low of $53.71 and a 1-year high of $68.39. The business’s 50-day moving average price is $64.64 and its two-hundred day moving average price is $62.32. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.97 and a beta of 0.58.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Monday, January 22nd. Finally, Bank of America raised their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,948 shares of company stock valued at $511,814. 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.