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Public Service Enterprise Group Incorporated (PSEG) will host its fourth quarter and full year 2023 earnings call on Feb. 26, 2024, to discuss financial results, guidance, capital investments, and regulatory activities. The audio webcast and presentation materials will be available on PSEG's Investor Relations website.
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Public Service Enterprise Group Incorporated (PSEG) announced the election of Ricardo G. Pérez to its Board of Directors, emphasizing his extensive experience in the energy industry, particularly in nuclear energy, supply chain management, IT, cybersecurity, and physical security. Pérez's election reflects PSEG's commitment to a cleaner energy future and a balanced mix of Director tenure and experience.
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PSE&G, New Jersey's largest electric and gas utility, filed its scheduled rate case with the New Jersey Board of Public Utilities. This is the company's first comprehensive electric and gas rate case in nearly six years, aiming to recover capital investments to strengthen and modernize the state's electric and gas infrastructure. PSE&G's request is among the lowest proposed rate increases filed by a NJ public utility in recent years.
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Public Service Enterprise Group (NYSE: PEG) has announced its 2024 non-GAAP Operating Earnings guidance, with a range of $3.60 to $3.70 per share, representing a 6% growth from the 2023 guidance. The company's long-term outlook for compound annual earnings growth of 5% to 7% for 2023 through 2027 remains consistent. PSEG's chair, president, and CEO, Ralph LaRossa, emphasized the improved business mix and platform for predictable growth, as well as the company's plan to increase the predictability of its business through operational excellence, disciplined investment, and financial strength.
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Public Service Electric and Gas Company (PSE&G) has secured the top spot in the J.D. Power 2023 U.S. Electric Utility Residential Customer Satisfaction Study for electric residential customers in the East among large utilities, as well as in the J.D. Power 2023 U.S. Electric Utility Business Customer Satisfaction Study in the east among large utilities. This marks the second consecutive year PSE&G customers ranked the company in first place for electric residential, excelling in all six evaluated categories. PSE&G has also won the 2023 ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 22 consecutive years.
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PSE&G (Public Service Electric & Gas Co.) has submitted its Clean Energy Future – Energy Efficiency II ('CEF-EE II') filing to the NJ Board of Public Utilities, comprising 11 programs targeting diverse customer segments, with a proposed $3.1 billion investment. The program aims to reduce nearly 10 million metric tons of carbon emissions and generate economic benefits for New Jersey residents and businesses. However, the filing also indicates a potential average monthly increase of $3.05 on the electric bill and $2.74 on the gas heating bill for customers.
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Public Service Enterprise Group (PEG) has declared a $0.57 per share dividend for the fourth quarter of 2023, payable to shareholders of record on December 8, 2023.
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PSEG 2023 Sustainability Report Highlights 100% Carbon-Free Generation Milestone and Focus on Predictability and Biodiversity
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PSEG Long Island reminds customers of state programs available to help with utility bills as winter heating season approaches. Customers can also lower their bills by using energy wisely. The company offers resources, tips, and energy efficiency programs to manage energy use and costs. Customers struggling to pay bills can enroll in a deferred payment agreement.
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Public Service Enterprise Group (PSEG) reported third quarter 2023 Net Income of $139 million, or $0.27 per share, compared to Net Income of $114 million, or $0.22 per share, for the third quarter 2022. Non-GAAP Operating Earnings for the third quarter of 2023 were $425 million, or $0.85 per share, compared to non-GAAP Operating Earnings of $429 million, or $0.86 per share for the third quarter of 2022. PSEG re-affirmed its full-year 2023 non-GAAP Operating EPS guidance range of $3.40 to $3.50 per share. PSE&G invested approximately $1 billion in capital spending during the third quarter, bringing the year-to-date spend to $2.7 billion. For the full-year 2023, capital spend is expected to total $3.7 billion, slightly higher than the original plan of $3.5 billion. PSEG's rate base growth trajectory is projected to be 6% to 7.5% through 2027, with a long-term, non-GAAP Operating Earnings growth rate of 5% to 7% over the same period.
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Public Service Enterprise Group Incorporated
NYSE:PEG
PEG Rankings
PEG Stock Data
37.08B
497.23M
0.12%
75.22%
1.41%
Electric Bulk Power Transmission and Control
Utilities
United States of America
NEWARK
About PEG
public service enterprise group (pseg) helps to make new jersey and new york better places to live and work by providing safe, reliable, economic and greener energy that powers the lives of millions every day. we are new jersey’s largest provider of electric and gas service, serving 1.8 million gas customers and 3.3 million electric customers in new jersey and new york. we also own and operate 19 power plants in the northeast and mid-atlantic regions and 36 solar energy facilities in new jersey and eight other states. headquartered in newark, n.j., pseg is a fortune 500 company traded on the new york stock exchange under the symbol peg.