Public Service Enterprise Group (NYSE:PEG) Issues FY 2024 Earnings Guidance

Public Service Enterprise Group (NYSE:PEG) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.600-3.700 for the period, compared to the consensus EPS estimate of 3.670. The company issued revenue guidance of -. Public Service Enterprise Group also updated its FY24 guidance to $3.60-3.70 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of 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. Scotiabank reduced their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reduced their price target on shares of 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. Evercore ISI increased their price target on shares of 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. Finally, Guggenheim cut shares of 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of Moderate Buy and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.07 during mid-day trading on Thursday, reaching $69.74. 1,787,641 shares of the company traded hands, compared to its average volume of 2,877,215. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $70.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market cap of $34.77 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 3.02 and a beta of 0.56. The stock has a fifty day simple moving average of $65.17 and a 200-day simple moving average of $62.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.19% and a net margin of 17.65%. The company’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,948 shares of company stock valued at $511,814. Company insiders own 0.57% of the company’s stock.

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.