Public Service Enterprise expects $725 million free cash flow in 2012

By Aleesia Forni

Columbus, Ohio, Sept. 21 - Public Service Enterprise Group Inc. expects free cash flow of roughly $725 million for both 2012 and 2013.

The company also maintained its guidance of earnings per share of between $2.50 and $2.75, with an estimated dividend of $1.37 per share this year.

Public Service Enterprise expects to spend roughly $6.8 billion from 2011 to 2013, with about $4.7 billion focused on the growth of the company.

During the company's presentation at the Bank of America Merrill Lynch Power and Gas Leaders Conference, chief financial officer Caroline Dorsa said the company's profile and structure of its balance sheet allows for investments in the business, along with the "agility and flexibility" to pursue further opportunities.

Public Service Enterprise is a Newark, N.J.-based gas and electric utility company.

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