Public Service Enterprise Group (PEG) Set to Announce Quarterly Earnings on Monday

Public Service Enterprise Group (NYSE:PEG) is set to issue its quarterly earnings data before the market opens on Monday, November 4th. Analysts expect the company to announce earnings of $0.94 per share for the quarter. Public Service Enterprise Group has set its FY 2024 guidance at 3.600-3.700 EPS and its FY24 guidance at $3.60-3.70 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up .1% 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 1.0 %

NYSE:PEG opened at $89.63 on Monday. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $44.64 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The business’s 50-day simple moving average is $85.69 and its 200-day simple moving average is $77.92.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group lifted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is owned by insiders.

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.