Public Service Enterprise Group (PEG) Scheduled to Post Earnings on Tuesday

Public Service Enterprise Group (NYSE:PEG) is scheduled to be issuing its quarterly earnings data 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.Parties that wish to listen to the company’s conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last issued 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. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. Public Service Enterprise Group’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. 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 Price Performance

Shares of Public Service Enterprise Group stock opened at $66.71 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. Public Service Enterprise Group has a one year low of $53.71 and a one year high of $67.51. The business’s 50 day simple moving average is $63.98 and its two-hundred day simple moving average is $62.08. The stock has a market capitalization of $33.26 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 7,748 shares of company stock worth $498,658 in the last three months. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. Barclays upped their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI lifted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Company Profile

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.