Public Service Enterprise Group Incorporated (NYSE:PEG) declared a quarterly dividend on Tuesday, November 21st, RTT News reports. Investors of record on Friday, December 8th will be paid a dividend of 0.43 per share by the utilities provider on Friday, December 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, December 7th.
Public Service Enterprise Group has decreased its dividend payment by an average of 5.1% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Public Service Enterprise Group has a dividend payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Public Service Enterprise Group to earn $2.98 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 57.7%.
Shares of Public Service Enterprise Group (PEG) traded up $0.08 during midday trading on Wednesday, hitting $52.76. 4,894,982 shares of the stock were exchanged, compared to its average volume of 2,810,568. Public Service Enterprise Group has a twelve month low of $41.14 and a twelve month high of $53.28. The firm has a market cap of $26,764.39, a PE ratio of 18.24, a price-to-earnings-growth ratio of 6.61 and a beta of 0.41. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.
Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the firm earned $0.88 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities analysts forecast that Public Service Enterprise Group will post 2.92 EPS for the current year.
In related news, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the sale, the chief operating officer now owns 81,241 shares of the company’s stock, valued at $4,071,798.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 79,920 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60. The disclosure for this sale can be found here. Insiders have sold 263,951 shares of company stock valued at $13,045,041 in the last 90 days. Company insiders own 0.61% of the company’s stock.
PEG has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Morgan Stanley boosted their price objective on shares of 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. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.50 to $50.00 in a report on Friday, August 11th. BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 14th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $50.42.
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About Public Service Enterprise Group
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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