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

Public Service Enterprise Group (NYSE:PEG - Get Free Report) is set to issue 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 interested in participating in the company's conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) 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 business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business's 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 Price Performance

Shares of NYSE:PEG traded down $0.22 on Tuesday, hitting $66.49. The company had a trading volume of 2,020,924 shares, compared to its average volume of 2,835,953. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group has a 52-week low of $53.71 and a 52-week high of $67.51. The business has a 50 day moving average of $63.98 and a 200 day moving average of $62.08. The company has a market cap of $33.15 billion, a PE ratio of 13.00, a PEG ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.61%. Public Service Enterprise Group's dividend payout ratio is currently 46.78%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm's 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 transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the 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 sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now 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. Insiders have sold a total of 7,948 shares of company stock worth $511,814 in the last three months. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. Scotiabank reduced their target price on 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. TheStreet upgraded Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. Finally, Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.