Public Service Enterprise Group ( NYSE: PEG ) -1.5% in Monday's trading, near its high for the day, after initiating guidance for FY 2023 operating earnings at $3.35-$3.55/share, below the $3.55 analyst consensus estimate.
PSEG ( PEG ) said it sees core growth, operations and maintenance savings, and pending initiatives mitigating the impact of pension headwinds and higher interest costs in 2023.
The utility also established an operating EPS compound annual growth rate growth rate for 2023-27 of 5%-7%, with planned capital spending rising to $15.5B-$18B, up $2B at the high end, and rate base CAGR to 2027 now at 6%-7.5%.
PSEG ( PEG ) also narrowed its FY 2022 operating EPS guidance to $3.40-$3.50, and maintained its $0.54/share quarterly dividend .
Despite the stock's 13% YTD decline, 'There is still a lot to like about PSEG - its assets, its customer base, its capital spending program, its dividend growth rate, its credit - Wolf Report writes in an analysis published on Seeking Alpha .
For further details see:
PSEG forecasts 2023 earnings below Wall Street consensus