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

Public Service Enterprise Group (NYSE:PEG) posted its quarterly earnings data on Monday. The utilities provider reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.04), Zacks reports. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a return on equity of 12.43% and a net margin of 14.31%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share.

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 Up 1.3%

Shares of NYSE PEG traded up $0.97 during trading on Wednesday, reaching $73.78. The company had a trading volume of 1,125,618 shares, compared to its average volume of 3,075,435. Public Service Enterprise Group has a 12-month low of $66.15 and a 12-month high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average is $71.22 and its 200 day moving average is $77.99. The stock has a market cap of $36.77 billion, a PE ratio of 20.83, a P/E/G ratio of 2.55 and a beta of 0.48.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEG. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. LADENBURG THALM/SH SH cut their target price on shares of Public Service Enterprise Group from $80.50 to $75.50 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America decreased their target price on shares of Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Scotiabank lowered their price target on shares of Public Service Enterprise Group from $92.00 to $77.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.63.

Insider Activity

In other news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total transaction of $153,308.80. Following the completion of the sale, the chief executive officer directly owned 276,487 shares of the company’s stock, valued at approximately $20,349,443.20. This trade represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,166 shares of company stock valued at $890,350 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group News Summary

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

• Positive Sentiment: PSEG reaffirmed its 2026 operating earnings guidance of $4.28–$4.40 per share, near the $4.38 consensus. Its five-year regulated capital investment plan of $22.5 billion–$25.5 billion could support longer-term growth. Article: Public Service Enterprise: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Wells Fargo maintained an Overweight rating, despite lowering its price target to $87 from $89, signaling continued confidence in PEG’s prospects. Article: Wells Fargo analyst update
• Neutral Sentiment: CEO Ralph LaRossa sold 2,083 shares under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 0.75%, limiting its significance as a signal about his outlook. SEC filing
• Negative Sentiment: Third-quarter EPS of $1.15 missed analyst estimates of about $1.19–$1.21, while revenue of $3.02 billion fell short of the $3.19 billion forecast and declined 6.4% year over year. Article: PSEG misses Q3 earnings and revenue estimates
• Negative Sentiment: Ladenburg Thalmann lowered its target to $75.50 from $80.50 and assigned a Neutral rating, reflecting a more cautious view of the shares. Article: Ladenburg Thalmann analyst update

Public Service Enterprise Group Company Profile

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.