Shares of Public Service Enterprise Group Inc hit a 52-week low of $67.11, extending a decline of 16.93% over the past year. The $33.5 billion utility company reported second-quarter non-GAAP operating earnings of $0.86 per share, surpassing Wall Street's estimate of $0.83 per share and marking an 11.7% increase from $0.77 a year earlier.
Revenue fell short of expectations, coming in at $2.55 billion against a projected $2.73 billion. The stock's drop aligns with ongoing economic pressures and regulatory shifts affecting the utility sector.
Management reaffirmed its full-year earnings guidance, citing steady utility investment, robust nuclear operations and improving regulatory support as contributors to potential future growth. The company has maintained dividend payments for 56 consecutive years, with a current yield of 4%.
An InvestingPro analysis noted that the stock's relative strength index suggests oversold conditions and that valuations appear below fair value.
