Public Service Enterprise Group (NYSE:PEG) Announces Earnings Results, Misses Estimates By $0.04 EPS

Public Service Enterprise Group (NYSE:PEG) announced its earnings results on Monday. The utilities provider reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04), Zacks reports. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. Public Service Enterprise Group’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 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% earnings growth outlook through 2030. Third-quarter operating earnings rose to $1.15 per share from $1.13 a year ago, despite lower GAAP net income.
• PSE&G remains on track for approximately $4.2 billion of regulated capital investment in 2026 and a $22.5–$25.5 billion five-year plan, supporting infrastructure modernization, energy efficiency, electrification and load growth. The company expects to file a proposal addressing regulatory lag by year-end while aligning with New Jersey’s affordability goals.
• PSEG Nuclear delivered strong operating performance, producing 8.2 terawatt-hours at a 95.5% capacity factor during the quarter. Management is pursuing contracts with large-load customers, nuclear uprates and potential new nuclear development, which could provide additional revenue and growth opportunities.
• PSEG said widening price differences between PJM hubs have increased market complexity, but its hedging strategy and PECO-based pricing have limited near-term exposure. The company also noted that delays to PJM’s Reliability Backstop Procurement auction could shift more responsibility toward bilateral contracts and state-level solutions.
• Higher depreciation, interest expense and taxes weighed on PSE&G’s results, while PSEG’s recent debt issuances carried rates of 5.4%–6.05%. Management expects lower financing activity in 2027, but rising borrowing costs remain a pressure on the capital-intensive business.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $74.29 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $71.23 and a two-hundred day simple moving average of $78.02. The firm has a market capitalization of $37.03 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.48. Public Service Enterprise Group has a 12 month low of $66.15 and a 12 month high of $87.63.

Analysts Set New Price Targets

PEG has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 in a research report on Thursday, October 15th. Citigroup cut their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Barclays reduced their price objective on shares of Public Service Enterprise Group from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. reduced their target price on Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.00.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the completion of the sale, the chief executive officer owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. The trade was a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group News Roundup

Here are the key news stories impacting Public Service Enterprise Group this week:

• Positive Sentiment: Management reaffirmed 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share, reducing concerns about a near-term outlook cut. PSEG Announces Third Quarter 2026 Results
• Positive Sentiment: PSEG’s five-year regulated capital investment plan totals $22.5 billion to $25.5 billion. The spending could expand the utility’s rate base and support longer-term earnings and cash-flow growth, although execution and regulatory approvals remain important. Public Service Enterprise: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Non-GAAP operating earnings rose to $1.15 per share from $1.13 a year earlier, while net income fell to $0.76 per share from $1.24 because of reconciling items. Analysts’ valuation-based outlook was reportedly upgraded despite the uneven results. Public Service Enterprise: Not Great Results, But Better Valuation
• Negative Sentiment: Third-quarter EPS of $1.15 missed consensus estimates ranging from $1.19 to $1.21, and revenue of $3.02 billion fell short of the $3.19 billion estimate. Revenue declined 6.4% year over year, indicating softer quarterly operating performance. PSEG Misses Q3 Earnings and Revenue Estimates

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.