Public Service Enterprise Group Incorporated (NYSE:PEG) announced a quarterly dividend on Tuesday, July 18th, RTT News reports. Shareholders of record on Friday, September 8th will be paid a dividend of 0.43 per share by the utilities provider on Friday, September 29th. This represents a $1.72 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, September 7th.
Public Service Enterprise Group has decreased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 5 years. Public Service Enterprise Group has a payout ratio of 59.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Public Service Enterprise Group to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 58.5%.
Shares of Public Service Enterprise Group (PEG) traded up 0.04% during trading on Friday, hitting $45.82. The company had a trading volume of 3,490,057 shares. The company has a market capitalization of $23.18 billion, a P/E ratio of 51.48 and a beta of 0.39. The stock’s 50-day moving average price is $46.19 and its 200 day moving average price is $44.65. Public Service Enterprise Group has a 52 week low of $39.28 and a 52 week high of $47.47.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company earned $0.57 EPS. On average, equities research analysts forecast that Public Service Enterprise Group will post $2.92 earnings per share for the current year.
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A number of equities research analysts have weighed in on PEG shares. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.50 to $50.00 in a report on Friday, August 11th. Finally, Morgan Stanley lifted their price objective on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.46.
In other news, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Insiders have sold a total of 54,900 shares of company stock valued at $2,413,947 over the last 90 days. Insiders own 0.61% of the company’s stock.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.
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