Public Service Enterprise Group (NYSE:PEG – Get Free Report) issued its earnings results on Tuesday. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06, Zacks reports. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Public Service Enterprise Group updated its FY 2026 guidance to 4.280-4.400 EPS.
Here are the key takeaways from Public Service Enterprise Group’s conference call:
- PSEG reaffirmed its 2026 non-GAAP operating earnings guidance of $4.28–$4.40 per share and its 6%–8% annual earnings growth outlook through 2030, supported by ongoing utility investment and power-market opportunities.
- PSE&G’s utility earnings rose year over year as infrastructure modernization and energy-efficiency investments drove results. The company plans approximately $4.2 billion of regulated capital spending in 2026 and expects to file a base-rate case by year-end to support recovery of its expanding rate base.
- PSEG Power benefited from higher realized market prices, increased nuclear generation and stronger gas operations; its nuclear fleet achieved a 92% capacity factor. PJM’s elevated capacity prices and New Jersey’s new nuclear procurement law could create additional long-term opportunities, although new nuclear development remains a lengthy and risk-sensitive process.
- The company highlighted successful restoration of approximately 380,000 customers after severe July storms, with nearly all restored within 24 hours, as well as more than $1 billion in annual customer savings from its Clean Energy Future programs. PSEG also expects a prospective transmission cost-allocation change to provide about $65 million of annual customer benefits.
- PSEG reported second-quarter GAAP earnings of $0.67 per share, down from $1.17 a year earlier, while non-GAAP operating earnings increased to $0.86 from $0.77. Management also noted a potential future annual headwind of approximately $40 million from the loss of a transmission incentive beginning in 2027.
Public Service Enterprise Group Stock Down 0.8%
Shares of PEG stock traded down $0.64 during trading hours on Wednesday, reaching $75.63. 229,374 shares of the company’s stock were exchanged, compared to its average volume of 2,935,279. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a market cap of $37.69 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.88 and a beta of 0.51. The stock’s 50 day moving average is $79.60 and its 200-day moving average is $80.81. Public Service Enterprise Group has a fifty-two week low of $74.20 and a fifty-two week high of $88.65.
Public Service Enterprise Group Dividend Announcement
Analyst Ratings Changes
A number of brokerages recently issued reports on PEG. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Truist Financial upped their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group decreased their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $91.25.
Check Out Our Latest Report on Public Service Enterprise Group
More Public Service Enterprise Group News
Here are the key news stories impacting Public Service Enterprise Group this week:
- Positive Sentiment: Second-quarter earnings exceeded expectations: PSEG reported EPS of $0.86, up from $0.77 a year earlier and above the $0.80 analyst consensus. The earnings beat suggests better-than-expected profitability and may provide support for PEG shares. PSEG Tops Q2 Earnings Estimates
- Positive Sentiment: Full-year guidance was reaffirmed: Management maintained its 2026 operating EPS range of $4.28 to $4.40, broadly consistent with the $4.38 consensus. PSEG also plans to file a base-rate case by year-end 2026, which could support future regulated-utility earnings and cash flow. PSEG Reaffirms Guidance and Rate Filing Plans
- Positive Sentiment: Dividend provides income support: PSEG declared a quarterly dividend of $0.67, or $2.68 annualized, representing an indicated yield of approximately 3.5%. PSEG Dividend and Insider Trading Report
- Neutral Sentiment: CEO sold a small stake under a preset plan: Ralph Larossa sold 2,083 shares for approximately $159,000 through a Rule 10b5-1 arrangement. The sale reduced his holdings by only 0.73%, making it less meaningful as an investment signal. SEC Insider Transaction Filing
- Negative Sentiment: Revenue missed and declined year over year: Quarterly revenue of $2.55 billion fell short of the $2.66 billion estimate and decreased 8.9% from the prior-year period. The top-line weakness and GAAP headwinds could offset some of the benefit from the EPS beat. PSEG Quarterly Earnings Report
Insider Activity
In related news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,284 shares of company stock worth $736,271. Corporate insiders own 0.19% of the company’s stock.
Hedge Funds Weigh In On Public Service Enterprise Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock worth $2,277,404,000 after acquiring an additional 762,591 shares during the period. Bank of America Corp DE increased its holdings in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after purchasing an additional 715,051 shares during the last quarter. Invesco Ltd. raised its stake in shares of Public Service Enterprise Group by 2.2% in the fourth quarter. Invesco Ltd. now owns 6,239,884 shares of the utilities provider’s stock worth $501,063,000 after purchasing an additional 131,641 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Northern Trust Corp now owns 4,950,122 shares of the utilities provider’s stock worth $397,495,000 after purchasing an additional 17,691 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.
The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.
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