New Risk • Aug 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €1.2m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (484% cash payout ratio). Significant insider selling over the past 3 months (€1.2m sold). Reported Earnings • Aug 04
Second quarter 2026 earnings released: EPS: US$0.67 (vs US$1.17 in 2Q 2025) Second quarter 2026 results: EPS: US$0.67 (down from US$1.17 in 2Q 2025). Revenue: US$2.55b (down 8.9% from 2Q 2025). Net income: US$334.0m (down 43% from 2Q 2025). Profit margin: 13% (down from 21% in 2Q 2025). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Jul 27
First quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 9th September 2026 Payment date: 30th September 2026 Dividend yield will be 3.4%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 5.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jul 22
Public Service Enterprise Group Incorporated announces Quarterly dividend, payable on September 30, 2026 Public Service Enterprise Group Incorporated announced Quarterly dividend of USD 0.6700 per share payable on September 30, 2026, ex-date on September 09, 2026 and record date on September 09, 2026. Tillkännagivande • Jul 17
Public Service Enterprise Group Incorporated to Report Q2, 2026 Results on Aug 04, 2026 Public Service Enterprise Group Incorporated announced that they will report Q2, 2026 results on Aug 04, 2026 Upcoming Dividend • Jun 03
Upcoming dividend of US$0.67 per share Eligible shareholders must have bought the stock before 09 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 56% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.2%). Declared Dividend • May 20
First quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 9th June 2026 Payment date: 30th June 2026 Dividend yield will be 3.5%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 5.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Apr 23
Public Service Enterprise Group Incorporated Declares Quarterly Dividend for the Second Quarter of 2026, Payable on or before June 30, 2026 The Board of Directors of Public Service Enterprise Group declared a $0.67 per share dividend on the outstanding common stock of the company for the second quarter of 2026.All dividends for the second quarter are payable on or before June 30, 2026, to shareholders of record on June 9, 2026. Tillkännagivande • Apr 14
Public Service Enterprise Group Incorporated to Report Q1, 2026 Results on May 05, 2026 Public Service Enterprise Group Incorporated announced that they will report Q1, 2026 results on May 05, 2026 Tillkännagivande • Mar 04
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 21, 2026 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 21, 2026. Tillkännagivande • Feb 26
Public Service Enterprise Group Incorporated Declares Quarterly Dividend for the First Quarter of 2026, Payable on or Before March 31, 2026 The Board of Directors of Public Service Enterprise Group declared a $0.67 per share quarterly common stock dividend for the first quarter of 2026, payable on or before March 31, 2026, to shareholders of record on March 10, 2026. This action represents an increase of $0.04 per share in the company's quarterly common stock dividend, bringing the 2026 indicative annual rate to $2.68 per share. Tillkännagivande • Feb 03
Public Service Enterprise Group Incorporated to Report Q4, 2025 Results on Feb 26, 2026 Public Service Enterprise Group Incorporated announced that they will report Q4, 2025 results at 12:30 PM, US Eastern Standard Time on Feb 26, 2026 Tillkännagivande • Jan 22
Public Service Enterprise Group Incorporated Appoints Geisha J. Williams as Independent Director, Effective March 1, 2026 Public Service Enterprise Group Incorporated announced that Geisha J. Williams has been elected to its Board of Directors, effective March 1, 2026. Williams has over 35 years of energy industry experience. She served as chief executive officer and president of PG&E Corporation from March 2017 to January 2019, overseeing one of the largest dual electric and gas utilities in the United States. Prior to joining PG&E, Williams worked for over two decades at Florida Power and Light where she held a wide variety of positions culminating in her role as vice president, Power Systems–Distribution. Williams serves as a member of the Supervisory Board for Siemens Energy, an independent director for the Artera Services Board of Directors, chair of the Board of Directors of Osmose Utilities Services, and as an independent director of the Meritage Homes Board of Directors. She holds a Bachelor of Science in industrial engineering from the University of Miami and a Master of Business Administration from Nova Southeastern University. Tillkännagivande • Dec 31
Public Service Enterprise Group Incorporated Announces Leadership Changes PSEG also announced it has named Scott Jennings as the new president and chief operating officer (COO) of PSEG Long Island starting on Jan. 5, 2026. John Latka has been named senior vice president of electric operations at PSEG to support both PSE&G and PSEG Long Island in achieving operational excellence. As PSEG Long Island's new president, Jennings will be responsible for overseeing the operation of the transmission and distribution system on Long Island and in the Rockaways under a five-year extension of the operations services agreement between LIPA and PSEG Long Island. Jennings comes to PSEG Long Island with more than 27 years of experience at PSEG, having served in various leadership roles including his most recent role as senior vice president of Finance, Planning and Strategy at PSEG, where he was responsible for the company's business plans and investments focused on improving reliability and meeting public policy and customer service goals in an affordable manner. Jennings also has extensive experience with PSEG Long Island's structure and operations, including leading the development, diligence, and negotiation of PSEG's arrangement to operate the Long Island electric grid on behalf of the Long Island Power Authority leading up to the establishment of PSEG Long Island in 2014. In addition to his own industry experience, Jennings will draw upon the deep expertise of the teams in electric operations, both on Long Island and in New Jersey, to support the provision of safe, reliable electrical service to approximately 1.2 million customers on Long Island and in the Rockaways. Latka, PSEG's senior vice president of Electric Operations, will partner with Jennings in ensuring PSEG Long Island's operational excellence while also fostering collaboration on best practices across PSEG's utilities in New Jersey and on Long Island. Latka has over 40 years of utility operations experience overseeing the full spectrum of electric infrastructure operations, including system design, construction, maintenance, emergency preparedness, and grid-modernization initiatives. Under Latka's leadership, PSE&G has achieved multiple National ReliabilityOne Awards, including recognition for Outstanding System Resiliency and Metropolitan Service Area Reliability Performance in the Mid-Atlantic Region for the 24th year in a row. Tillkännagivande • Nov 19
Public Service Enterprise Group Incorporated Declares Dividend for the Fourth Quarter of 2025, Payable on or Before December 31, 2025 Public Service Enterprise Group Incorporated Board of Directors declared a $0.63 per share dividend of the outstanding common stock of the company for the fourth quarter of 2025. All dividends for the fourth quarter are payable on or before December 31, 2025, to shareholders of record on December 10, 2025. Tillkännagivande • Oct 14
Public Service Enterprise Group Incorporated to Report Q3, 2025 Results on Nov 03, 2025 Public Service Enterprise Group Incorporated announced that they will report Q3, 2025 results at 12:30 PM, US Eastern Standard Time on Nov 03, 2025 Tillkännagivande • Jul 22
Public Service Enterprise Group Incorporated Declares Dividend for Third Quarter of 2025, Payable on or Before September 30, 2025 The Board of Directors of Public Service Enterprise Group Incorporated declared a $0.63 per share dividend on the outstanding common stock of the company for the third quarter of 2025. All dividends for the third quarter are payable on or before September 30, 2025, to shareholders of record on September 9, 2025. Tillkännagivande • Jul 15
Public Service Enterprise Group Incorporated to Report Q2, 2025 Results on Aug 05, 2025 Public Service Enterprise Group Incorporated announced that they will report Q2, 2025 results on Aug 05, 2025 Tillkännagivande • Apr 23
Public Service Enterprise Group Incorporated Declares Regular Quarterly Dividend for the Second Quarter of 2025, Payable on or Before June 30, 2025 The Board of Directors of Public Service Enterprise Group declared a $0.63 per share dividend on the outstanding common stock of the company for the second quarter of 2025. All dividends for the second quarter are payable on or before June 30, 2025, to shareholders of record on June 9, 2025. Tillkännagivande • Mar 06
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 22, 2025 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 22, 2025. Tillkännagivande • Feb 04
Public Service Enterprise Group Incorporated to Report Q4, 2024 Results on Feb 25, 2025 Public Service Enterprise Group Incorporated announced that they will report Q4, 2024 results on Feb 25, 2025 Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ric Perez was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Nov 06
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to €77.50. The fair value is estimated to be €62.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 5.1% per annum over the same time period. Reported Earnings • Nov 04
Third quarter 2024 earnings released: EPS: US$1.04 (vs US$0.28 in 3Q 2023) Third quarter 2024 results: EPS: US$1.04 (up from US$0.28 in 3Q 2023). Revenue: US$2.64b (up 7.6% from 3Q 2023). Net income: US$520.0m (up 274% from 3Q 2023). Profit margin: 20% (up from 5.7% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 14
Public Service Enterprise Group Incorporated to Report Q3, 2024 Results on Nov 04, 2024 Public Service Enterprise Group Incorporated announced that they will report Q3, 2024 results on Nov 04, 2024 Tillkännagivande • Sep 17
Public Service Enterprise Group Incorporated Announces Executive Changes As part of a planned succession process, Public Service Enterprise Group Incorporated (PSEG) announced that Executive Vice President and General Counsel Tamara L. Linde plans to retire from PSEG effective March 14, 2025. PSEG Deputy General Counsel and Chief Litigation Counsel Grace Park has been appointed Executive Vice President and General Counsel, effective September 16, 2024, and will continue to report to Linde until Linde's retirement. In support of a smooth transition of leadership, Linde will shift to the role of Executive Vice President and Chief Legal Officer, effective September 16, 2024. Linde joined PSEG in 1990 and has served as PSEG's General Counsel for the past 10 years. Under her leadership, Linde helped PSEG navigate several complex and historic energy transitions such as the state's support for nuclear generation through the Zero Emissions Certificates, the establishment of PSEG Long Island a decade ago, PSEG's transition to a mostly regulated utility with the sale of fossil portfolio and many other milestone achievements. Park joined PSEG in 2017 and was promoted to Vice President, Deputy General Counsel and Chief Litigation Counsel in 2020. Prior to PSEG, Park spent four years as Acting Prosecutor in Union County, N.J. Additionally, Park served as Senior Corporate Counsel for litigation at Pfizer Inc. and as a federal prosecutor in the U.S. Attorney's Office in Newark, N.J. Park is a graduate of University of California, Berkeley, and Harvard Law School. Upcoming Dividend • Sep 02
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 09 September 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Recent Insider Transactions • Aug 19
Executive VP & General Counsel recently sold €1.4m worth of stock On the 15th of August, Tamara Linde sold around 19k shares on-market at roughly €73.07 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.9m more than they bought in the last 12 months. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: US$0.87 (vs US$1.19 in 2Q 2023) Second quarter 2024 results: EPS: US$0.87 (down from US$1.19 in 2Q 2023). Revenue: US$2.42b (flat on 2Q 2023). Net income: US$434.0m (down 27% from 2Q 2023). Profit margin: 18% (down from 24% in 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 22
First quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 9th September 2024 Payment date: 30th September 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jul 04
Public Service Enterprise Group Incorporated to Report Q2, 2024 Results on Jul 30, 2024 Public Service Enterprise Group Incorporated announced that they will report Q2, 2024 results on Jul 30, 2024 Upcoming Dividend • May 31
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.0%). Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$1.06 (vs US$2.59 in 1Q 2023) First quarter 2024 results: EPS: US$1.06 (down from US$2.59 in 1Q 2023). Revenue: US$2.76b (down 27% from 1Q 2023). Net income: US$532.0m (down 59% from 1Q 2023). Profit margin: 19% (down from 34% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 23
Fourth quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 7th June 2024 Payment date: 28th June 2024 Dividend yield will be 3.6%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but not covered by cash flows (249% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 1.4% over the next 3 years. However, it would need to fall by 51% to increase the payout ratio to a potentially unsustainable range. Tillkännagivande • Apr 10
Public Service Enterprise Group Incorporated to Report Q1, 2024 Results on Apr 30, 2024 Public Service Enterprise Group Incorporated announced that they will report Q1, 2024 results on Apr 30, 2024 Upcoming Dividend • Feb 29
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 29 March 2024. Payout ratio is a comfortable 44% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (5.8%). Tillkännagivande • Feb 28
Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 16, 2024 Public Service Enterprise Group Incorporated, Annual General Meeting, Apr 16, 2024, at 13:00 US Eastern Standard Time. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: US$5.13 (vs US$2.07 in FY 2022) Full year 2023 results: EPS: US$5.13 (up from US$2.07 in FY 2022). Revenue: US$11.2b (up 15% from FY 2022). Net income: US$2.56b (up 149% from FY 2022). Profit margin: 23% (up from 11% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 19
Third quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 7th March 2024 Payment date: 29th March 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (154% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 8.0% over the next 3 years. However, it would need to fall by 56% to increase the payout ratio to a potentially unsustainable range. Tillkännagivande • Feb 16
Public Service Enterprise Group Incorporated Appoints Ricardo G. Pérez as Member of Governance, Nominating and Sustainability Committee and the Industrial Operations Committee On February 13, 2024, the Board of Directors of Public Service Enterprise Group Incorporated, upon the recommendation of the Governance, Nominating and Sustainability (GNS) Committee, appointed Ricardo G. Pérez to the GNS Committee and the Industrial Operations Committee, effective immediately. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Ric Perez was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jan 27
Public Service Enterprise Group Incorporated to Report Q4, 2023 Results on Feb 26, 2024 Public Service Enterprise Group Incorporated announced that they will report Q4, 2023 results on Feb 26, 2024 Tillkännagivande • Jan 25
Public Service Enterprise Group Incorporated Elects Ricardo (Ric) G. Pérez to Board of Directors Public Service Enterprise Group Incorporated announced that Ricardo (Ric) G. Pérez has been elected to its Board of Directors, effective January 22, 2024. Pérez's election is part of PSEG's commitment to safe and reliable nuclear energy. A retired energy executive with more than 35 years of industry experience, Pérez held the leadership roles at the Tennessee Valley Authority (TVA) of senior vice president and chief administrative officer and senior vice president, Nuclear Operations Support and Projects from 2013 to 2017. Prior to TVA, Pérez served the Westinghouse Electric Company from 1981 to 2013, including as president and chief operating officer from 2010 to 2013. Demonstrating the Board's and its Governance, Nominating and Sustainability Committee's continued belief in having a balanced mix of Director tenure and experience, Pérez is the second new independent director elected to the PSEG Board of Directors within four months and fifth since the beginning of 2020. Pérez is a member of the University of Florida Nuclear Engineering Advisory Board and an executive member of the Latino Corporate Directors Association. He is the non-executive chair of the board of the Menper Group, a group of Hispanic-owned health products businesses. Pérez holds a bachelor's degree in engineering from the University of Florida and a Master of Science in energy engineering from the University of Pittsburgh. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.57 per share at 3.6% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 29 December 2023. Payout ratio is a comfortable 40% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.5%). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$0.28 (vs US$0.23 in 3Q 2022) Third quarter 2023 results: EPS: US$0.28 (up from US$0.23 in 3Q 2022). Revenue: US$2.46b (up 8.1% from 3Q 2022). Net income: US$139.0m (up 22% from 3Q 2022). Profit margin: 5.7% (up from 5.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 28
Public Service Enterprise Group Incorporated Announces Resignation of Alfred W. Zollar from the Board of Directors Public Service Enterprise Group Incorporated On October 24, 2023, Alfred W. Zollar notified Public Service Enterprise Group Incorporated (PSEG) that he was resigning from the Board of Directors of PSEG, of which he had been a member since June 2012, and the Board of Directors of Public Service Electric and Gas Company (PSE&G), each effective immediately. Mr. Zollar’s resignation is not the result of any disagreement with PSEG or PSE&G on any matter related to its or their operations, policies or practices. Tillkännagivande • Sep 27
Public Service Enterprise Group Incorporated to Report Q3, 2023 Results on Oct 31, 2023 Public Service Enterprise Group Incorporated announced that they will report Q3, 2023 results on Oct 31, 2023 Tillkännagivande • Sep 22
Public Service Enterprise Group Incorporated Announces Election of Kenneth Y. Tanji to its Board of Directors Public Service Enterprise Group Incorporated announced that Kenneth Y. Tanji has been elected to its Board of Directors, effective September 20, 2023. He also will serve on the audit and finance committees. Tanji has served as executive vice president and chief financial officer of Prudential Financial Inc. since December 2018, overseeing global financial management matters including financial reporting, investor relations, treasury, tax, corporate development, and actuarial. He joined Prudential in 1988 and has held various leadership positions including senior vice president and treasurer, chief financial officer of Prudential's International businesses, and senior financial officer of Prudential Annuities. Tanji serves as trustee and treasurer for the New Jersey Institute for Social Justice. He holds a bachelor's degree in economics from Yale University and an MBA in finance from the University of Minnesota. Upcoming Dividend • Aug 31
Upcoming dividend of US$0.57 per share at 3.7% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 40% but the company is paying out more than the cash it is generating. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.7%). Tillkännagivande • Aug 11
Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC acquired 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG). Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC acquired 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG) on August 10, 2023.
Harbert Infrastructure Fund VI, LP managed by Harbert Power, LLC completed the acquisition of 50% stake in Kalaeloa Partners, L.P. from Public Service Enterprise Group Incorporated (NYSE:PEG) on August 10, 2023. New Risk • Aug 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (170% cash payout ratio). Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: US$1.18 (vs US$0.26 in 2Q 2022) Second quarter 2023 results: EPS: US$1.18 (up from US$0.26 in 2Q 2022). Revenue: US$2.42b (up 17% from 2Q 2022). Net income: US$591.0m (up 351% from 2Q 2022). Profit margin: 24% (up from 6.3% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.4% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Tillkännagivande • Jul 04
Public Service Enterprise Group Incorporated to Report Q2, 2023 Results on Aug 01, 2023 Public Service Enterprise Group Incorporated announced that they will report Q2, 2023 results on Aug 01, 2023 Tillkännagivande • Jun 02
Orsted North America Inc. acquired 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on January 18, 2023. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1. The first power from Ocean Wind 1 is scheduled for the end of 2024, and full commissioning is expected in 2025. PSEG will support onshore infrastructure construction. The transaction is expected to close in the first half of 2023, pending the required closing conditions.
Orsted North America Inc. completed the acquisition of 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on May 31, 2023. Orsted North America Inc. now owns 100% of New Jersey's first offshore wind farm. PSEG has also entered into a limited Transition Services Agreement with Orsted North America Inc. to provide Ocean Wind 1 with construction management and environmental permitting services for the onshore substations and transmission cable installation scope of the project. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.57 per share at 3.8% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.7%). Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$2.58 (vs US$0.004 loss in 1Q 2022) First quarter 2023 results: EPS: US$2.58 (up from US$0.004 loss in 1Q 2022). Revenue: US$3.76b (up 62% from 1Q 2022). Net income: US$1.29b (up US$1.29b from 1Q 2022). Profit margin: 34% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 17
Insider recently sold €382k worth of stock On the 13th of March, Eric Carr sold around 7k shares on-market at roughly €53.73 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.57 per share at 3.9% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 31 March 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: US$2.06 (vs US$1.29 loss in FY 2021) Full year 2022 results: EPS: US$2.06 (up from US$1.29 loss in FY 2021). Revenue: US$9.80b (flat on FY 2021). Net income: US$1.03b (up US$1.68b from FY 2021). Profit margin: 11% (up from net loss in FY 2021). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 15
Public Service Enterprise Group Declares Quarterly Common Stock Dividend for the First Quarter of 2023, Payable on March 31, 2023 The Board of Directors of Public Service Enterprise Group declared a $0.57 per share quarterly common stock dividend for the first quarter of 2023, payable on March 31, 2023 to shareholders of record on March 10, 2023. This action represents a $0.03 per share, or 5.6% increase, in the company's quarterly common stock dividend and brings the 2023 indicative annual rate to $2.28 per share. Tillkännagivande • Jan 20
Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated. Orsted North America Inc. signed an agreement to acquire remaining 25% stake in Ocean Wind project in New Jersey of Orsted North America from Public Service Enterprise Group Incorporated on January 18, 2023. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1. The first power from Ocean Wind 1 is scheduled for the end of 2024, and full commissioning is expected in 2025. PSEG will support onshore infrastructure construction. The transaction is expected to close in the first half of 2023, pending the required closing conditions. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 30 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.0%). Board Change • Nov 16
High number of new directors President, CEO, & Director Ralph LaRossa was the last director to join the board, commencing their role in 2022. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: US$0.23 (vs US$3.10 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.23 (up from US$3.10 loss in 3Q 2021). Revenue: US$2.27b (up 19% from 3Q 2021). Net income: US$114.0m (up US$1.68b from 3Q 2021). Profit margin: 5.0% (up from net loss in 3Q 2021). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Buying Opportunity • Nov 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €70.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, CEO, & Director Ralph LaRossa was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, CEO, & Director Ralph LaRossa was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 30 September 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.2%). Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$0.26 (vs US$0.35 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.26 (up from US$0.35 loss in 2Q 2021). Revenue: US$2.08b (up 11% from 2Q 2021). Net income: US$131.0m (up US$308.0m from 2Q 2021). Profit margin: 6.3% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 4.5%, compared to a 6.2% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 30 June 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.8%). Reported Earnings • May 04
First quarter 2022 earnings released: US$0.004 loss per share (vs US$1.29 profit in 1Q 2021) First quarter 2022 results: US$0.004 loss per share (down from US$1.29 profit in 1Q 2021). Revenue: US$2.31b (down 20% from 1Q 2021). Net loss: US$2.00m (down 100% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 5.1%, compared to a 1.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 31 March 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Within top quartile of German dividend payers (3.4%). In line with average of industry peers (3.1%). Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$1.29 loss per share (down from US$3.78 profit in FY 2020). Revenue: US$9.72b (up 1.2% from FY 2020). Net loss: US$648.0m (down 134% from profit in FY 2020). Revenue missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 2.9%, compared to a 2.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 31 December 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.3%). In line with average of industry peers (3.3%). Reported Earnings • Nov 04
Third quarter 2021 earnings released: US$3.10 loss per share (vs US$1.14 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$1.90b (down 20% from 3Q 2020). Net loss: US$1.56b (down 372% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 31
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 30 September 2021. Trailing yield: 3.2%. Within top quartile of German dividend payers (3.1%). In line with average of industry peers (3.3%). Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.35 loss per share (vs US$0.90 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$1.87b (down 8.6% from 2Q 2020). Net loss: US$177.0m (down 139% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Executive Departure • Jul 01
President of Public Service Electric & Gas Company David Daly has left the company On the 30th of June, David Daly's tenure as President of Public Service Electric & Gas Company ended after 3.7 years in the role. As of March 2021, David still personally held 65.03k shares (€3.3m worth at the time). David is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.21 years. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.51 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 30 June 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.5%). Reported Earnings • May 06
First quarter 2021 earnings released: EPS US$1.28 (vs US$0.89 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$2.89b (up 3.9% from 1Q 2020). Net income: US$648.0m (up 45% from 1Q 2020). Profit margin: 22% (up from 16% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 02
New 90-day low: €44.40 The company is down 6.0% from its price of €47.20 on 02 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €170 per share. Upcoming Dividend • Mar 01
Upcoming Dividend of US$0.51 Per Share Will be paid on the 31st of March to those who are registered shareholders by the 8th of March. The trailing yield of 3.8% is in the top quartile of German dividend payers (3.4%), and it is in line with industry peers (3.7%). Reported Earnings • Feb 27
Full year 2020 earnings released: EPS US$3.76 (vs US$3.36 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$9.60b (down 4.7% from FY 2019). Net income: US$1.91b (up 13% from FY 2019). Profit margin: 20% (up from 17% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue misses expectations Revenue missed analyst estimates by 5.2%. Over the next year, revenue is forecast to grow 10.0%, compared to a 6.9% growth forecast for the Integrated Utilities industry in Germany. Is New 90 Day High Low • Jan 06
New 90-day low: €45.00 The company is down 7.0% from its price of €48.20 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €30.64 per share. Tillkännagivande • Dec 05
Public Service Enterprise Group Incorporated (NYSE:PEG) entered into a definitive agreement to acquire 25% stake in Ocean Wind project in New Jersey from Orsted North America Inc. Public Service Enterprise Group Incorporated (NYSE:PEG) entered into a definitive agreement to acquire 25% stake in Ocean Wind project in New Jersey from Orsted North America Inc. on December 4, 2020. The transaction closing is subjected to approval by the New Jersey Board of Public Utilities and other customary closing conditions. The transaction is expected to close in first half of 2021. Wachtell, Lipton, Rosen & Katz LLP acted as a legal advisor to Public Service Enterprise Group and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Orsted North America in the transaction. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 7.2% at US$2.37b. Revenue is forecast to grow 8.7% over the next year, compared to a 6.4% growth forecast for the Integrated Utilities industry in Germany. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$1.91b, up 31% from the prior year. Total revenue was US$9.68b over the last 12 months, down 3.8% from the prior year. Is New 90 Day High Low • Oct 24
New 90-day high: €51.50 The company is up 15% from its price of €44.80 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.49 per share. Is New 90 Day High Low • Oct 05
New 90-day high: €47.60 The company is up 7.0% from its price of €44.40 on 07 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Integrated Utilities industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €117 per share. 
