Core Points - Public Service Enterprise Group (PSEG) declared a dividend of $0.63 per share for the third quarter of 2025, payable on or before September 30, 2025, to shareholders of record on September 9, 2025 [1] Company Overview - PSEG is a predominantly regulated infrastructure company operating New Jersey's largest transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers [2] - The company owns a fleet of 3,758 MW of carbon-free, baseload nuclear power generating units located in New Jersey and Pennsylvania [2] - PSEG aims to create a future with less energy consumption that is cleaner, safer, and more reliable, guided by its "Powering Progress" vision [2] - PSEG is a member of the S&P 500 Index and has been included in the Dow Jones Sustainability North America Index for 17 consecutive years [2]

Company Overview - Trinity Asset Management was founded by Brian Gilmartin in May 1995, focusing on providing attention and service to individual investors and institutions that were underserved by larger firms [1] - Brian Gilmartin has a background as a fixed-income/credit analyst and has experience working with a Chicago broker-dealer and Stein Roe & Farnham before establishing his own firm [1] Educational Background - Brian Gilmartin holds a BSBA in Finance from Xavier University, Cincinnati, Ohio, obtained in 1982, and an MBA in Finance from Loyola University, Chicago, completed in January 1985 [1] - He earned the CFA designation in 1994, indicating a high level of expertise in investment management [1] Professional Experience - Brian Gilmartin has contributed to financial writing, having written for TheStreet.com from 2000 to 2012 and WallStreet AllStars from August 2011 to Spring 2012 [1] - He has also written for Minyanville.com and has been quoted in various publications, including the Wall Street Journal, showcasing his influence in the financial industry [1]

Core Viewpoint - Public Service Enterprise Group (PSEG) will host its second quarter 2025 earnings call on August 5, 2025, to discuss financial results, guidance, capital investments, and regulatory activities [1]. Group 1: Earnings Call Details - The earnings call is scheduled for 11:00 a.m. ET on August 5, 2025 [1]. - An audio webcast of the call will be available on PSEG's Investor Relations website, along with presentation materials [2]. - A replay of the audio webcast and accompanying materials will be accessible by August 6, 2025 [2]. Group 2: Company Overview - PSEG is a regulated infrastructure company operating New Jersey's largest transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers [3]. - The company owns a fleet of 3,758 MW of carbon-free, baseload nuclear power generating units located in New Jersey and Pennsylvania [3]. - PSEG has been recognized in the Dow Jones Sustainability North America Index for 17 consecutive years and is a member of the S&P 500 Index [3]. Group 3: Investor Relations - PSEG and PSE&G provide important information through their corporate Investor Relations website [4]. - Investors are encouraged to visit the website for updates and can sign up for automatic email alerts regarding new postings [4].

Core Insights - In times of market volatility, investors often prefer value investing, seizing opportunities to buy undervalued stocks as others sell at lower prices [1][2] Value Investment Strategy - Value investing can lead to "value traps" where stocks underperform due to persistent issues rather than temporary problems [3] - Key metrics for identifying value stocks include dividend yield, P/E ratio, and P/B ratio [3] Importance of PEG Ratio - The PEG ratio, defined as (Price/Earnings)/Earnings Growth Rate, is a crucial metric for assessing a stock's intrinsic value [4][5] - A low PEG ratio is favorable for value investors, but it has limitations, such as not accounting for changing growth rates [5] Screening Criteria for Value Stocks - Effective screening criteria for value stocks include a PEG ratio less than the industry median, a P/E ratio below the industry median, Zacks Rank 1 or 2, market capitalization over $1 billion, average 20-day volume greater than 50,000, and upward earnings estimate revisions greater than 5% [6] Selected Stocks - Carnival Corporation (CCL) has a five-year growth rate of 28.5% and a Zacks Rank 2 with a Value Score of A [7][9] - Harmony Gold Mining (HMY) shows a long-term historical growth rate of 73.4%, a Zacks Rank 1, and a Value Score of B [7][10][11] - Dollar Tree (DLTR) has a five-year expected growth rate of 6.7% and a Zacks Rank 2 with a Value Score of B [7][12][13] - Greif, Inc. (GEF) has a long-term expected earnings growth rate of 9.9%, a Value Score of A, and a Zacks Rank of 1 [7][14]

PSEG Investor Update Leading toward a sustainable future 1 March 2025 PSEG Investor Update March 2025 Forward-Looking Statements Certain of the matters discussed in this report about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences, and all other statements that are not purely historical constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-loo ...

Core Insights - PSE&G is preparing for an expected heat wave and is encouraging customers to take steps to manage energy use and bills during high temperatures [1][2][3] Energy Management and Customer Support - PSE&G emphasizes the importance of energy conservation during extreme heat, noting that electricity demand significantly increases as temperatures rise [6][7] - The company has implemented various programs to assist customers in reducing energy consumption and managing bills, including energy efficiency audits and payment assistance options [6][10] - PSE&G's Equal Payment Plan allows customers to spread their energy costs evenly over the year, while Deferred Payment Arrangements help manage past-due balances [10] Safety and Preparedness - Customers are advised to prepare for potential power outages and to notify PSE&G if they rely on electricity for medical equipment [5][9] - The company provides tips for staying safe during high temperatures, such as staying hydrated and avoiding overexertion [7] Infrastructure and Reliability - PSE&G invests annually to modernize its infrastructure, ensuring reliability during extreme weather events [3][4] - The company relies on the regional grid operator, PJM, to maintain adequate electric supply, especially since 35% of its power is sourced from outside New Jersey [4] Recognition and Achievements - PSE&G has received multiple awards for reliability and customer satisfaction, including the ReliabilityOne® Award and the ENERGY STAR Partner of the Year award [11]

Core Viewpoint - PSE&G has received approval from the New Jersey Board of Public Utilities (BPU) to implement a temporary credit for residential customers to alleviate the impact of rising electric supply prices due to PJM's capacity price auction, as part of its Summer Relief Initiative [1][3][5] Group 1: Immediate Relief Measures - For July and August 2025, PSE&G will provide a credit of $30, including taxes, to each residential electric customer's monthly bill [3] - PSE&G will waive all residential reconnection fees from July 1 to September 30, 2025, as part of the Summer Moratorium [4] - Customers will see a $10 charge on their monthly bills from September 2025 through February 2026 to recover the costs associated with the electricity provided during the summer [3] Group 2: Long-term Solutions - PSE&G emphasizes the need for long-term solutions to address the power supply-demand imbalance in New Jersey, advocating for new energy generation [2][6][7] - The company has been warning about the supply and demand imbalance for several years and stresses the importance of generating energy in-state to reduce costs for residents and businesses [6] Group 3: Customer Support and Assistance - PSE&G collaborates with nonprofits and community organizations to inform customers about energy assistance options, including programs like LIHEAP and SHARES [11] - The company offers additional bill payment tools such as the Equal Payment Plan and Deferred Payment Arrangements to help customers manage costs [12] Group 4: Company Background and Achievements - PSE&G is New Jersey's oldest and largest gas and electric delivery public utility and has received numerous awards for reliability and customer satisfaction [14] - The company has been recognized for its commitment to a clean energy future and has been included in the Dow Jones Sustainability Index for North America for 17 consecutive years [14]

Core Viewpoint - Public Service Enterprise Group, Inc. (PSEG) is prioritizing renewable energy expansion to enhance its position in the clean energy sector while investing in infrastructure to improve reliability [1][2] Investment Plans - PSEG plans to invest approximately $3.8 billion in 2025 for infrastructure upgrades, energy efficiency, electrification projects, and load growth, with a total capital investment of $21-24 billion projected between 2025 and 2029 [2][8] - The company anticipates a compounded annual rate-based growth of 6-7.5% over the same period due to its robust capital investment strategy [2] Clean Energy Initiatives - Significant investments are being made in utility-owned solar photovoltaic (PV) systems, with 158 megawatts of installed PV solar capacity in New Jersey as of December 31, 2024 [3] - PSEG aims to achieve net-zero carbon emissions by 2030, accelerating its original target by 20 years, and is modernizing its gas distribution infrastructure to reduce gas leaks [4][8] Environmental Remediation Costs - PSEG's PSE&G segment is working with the New Jersey Department of Environmental Protection to address environmental conditions at former manufactured gas plant sites, with 38 sites requiring remediation at an estimated cost of $199-$224 million [5] - These remediation costs may negatively impact PSEG's operating results [5] Financial Position - As of March 31, 2025, PSEG has a long-term debt of $20.40 billion and a cash balance of $0.89 billion, indicating a weak solvency position [6] Stock Performance - Over the past three months, PEG shares have increased by 1.5%, while the industry has seen a growth of 3.3% [7]

Core Viewpoint - PSE&G is implementing a Summer Relief Initiative to assist residential electric customers in New Jersey amid a significant electric supply price increase resulting from PJM's capacity price auction, while seeking approval from the New Jersey Board of Public Utilities (BPU) for relief measures [1][2][3] Group 1: Summer Relief Initiative - The Summer Relief Initiative includes a Summer Moratorium and suspension of reconnection fees to protect qualified residential customers from disconnection during the summer months [1][9] - PSE&G filed for approval of this initiative on May 7, with additional support for residential customers added on May 15, pending BPU review [2] - The company will defer the effects of the June 1 supply increase for residential customers over the summer months, while still paying electricity suppliers the full cost of generation [1][3] Group 2: Customer Support and Assistance - PSE&G emphasizes the importance of customer support, encouraging those struggling to pay their bills to reach out for assistance [3][8] - The company provides various energy assistance options, including the Low Income Home Energy Assistance Program (LIHEAP) and SHARES for customers facing temporary financial crises [10] - Additional bill payment tools are available, such as the Equal Payment Plan, which divides annual energy costs into 12 equal monthly payments, and Deferred Payment Arrangements for past-due balances [11] Group 3: Long-term Solutions and Industry Context - PSE&G has been warning about the supply and demand imbalance in the region for several years and is committed to working with policymakers on long-term solutions to address significant rate increases [7] - The company highlights that the 17% rise in electric rates is not caused by PSE&G but acknowledges the need for more power generation in New Jersey to meet forecasted energy supply-demand imbalances [3][7] - PSE&G's electric and gas bills are nearly equivalent to their 2008 levels when adjusted for inflation, indicating a focus on maintaining affordability [4]

Core Investment Strategy - Value investing is highlighted as a reliable strategy during market volatility, allowing investors to purchase stocks at discounted prices when others sell [1][2] Value Investment Drawbacks - The concept of "value traps" is introduced, where stocks may underperform due to persistent issues rather than temporary problems [3] - Common metrics for value investing include dividend yield, P/E, and P/B ratios, which help identify discounted stocks [3] Importance of PEG Ratio - The PEG ratio, defined as (Price/Earnings)/Earnings Growth Rate, is emphasized as a crucial metric for assessing a stock's intrinsic value [4][5] - A low PEG ratio is preferred, but it has limitations, such as not accounting for changing growth rates over time [5] Screening Criteria for Value Stocks - Effective screening criteria for value stocks include: - PEG Ratio less than industry median - P/E Ratio less than industry median - Zacks Rank 1 (Strong Buy) or 2 (Buy) - Market Capitalization greater than $1 billion - Average 20-Day Volume greater than 50,000 - Percentage Change in F1 Earnings Estimate Revisions greater than 5% - Value Score of less than or equal to B [6] Selected Stocks - Urban Outfitters (URBN) is a lifestyle retailer with a Zacks Rank 1 and a five-year historical growth rate of 20% [9][8] - Dentsply Sirona (XRAY) is a leader in dental products with a Zacks Rank 2 and a long-term expected growth rate of 7.4% [10][11] - LATAM Airlines (LTM) offers extensive air transportation services with a Zacks Rank 1 and a five-year expected growth rate of 14.8% [11][12] - Exelixis (EXEL) focuses on cancer therapies with a long-term expected earnings growth rate of 21% and a Zacks Rank of 2 [12][13]