Public Service Enterprise Group Inc. (NYSE:PEG) to Issue Quarterly Dividend of $0.47

Public Service Enterprise Group Inc. (NYSE:PEG) declared a quarterly dividend on Tuesday, July 16th, RTT News reports. Investors of record on Monday, September 9th will be paid a dividend of 0.47 per share by the utilities provider on Monday, September 30th. This represents a $1.88 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, September 6th.

Public Service Enterprise Group has raised its dividend by an average of 4.9% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Public Service Enterprise Group has a dividend payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Public Service Enterprise Group to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 55.3%.

Shares of PEG stock opened at $61.03 on Thursday. The stock has a 50 day moving average of $58.81 and a 200 day moving average of $59.24. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. The stock has a market cap of $30.93 billion, a P/E ratio of 19.56, a P/E/G ratio of 8.34 and a beta of 0.29. Public Service Enterprise Group has a twelve month low of $49.22 and a twelve month high of $61.63.



Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.04). The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, research analysts predict that Public Service Enterprise Group will post 3.23 earnings per share for the current fiscal year.

In other news, insider Derek M. Dirisio sold 2,176 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.08, for a total value of $130,734.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $58.26, for a total value of $3,053,231.82. Following the completion of the sale, the chairman now owns 396,403 shares of the company’s stock, valued at $23,094,438.78. The disclosure for this sale can be found here. Insiders sold 112,165 shares of company stock valued at $6,482,712 over the last 90 days. Company insiders own 0.51% of the company’s stock.

Several research analysts recently weighed in on the company. KeyCorp began coverage on Public Service Enterprise Group in a research report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 price target for the company. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, July 29th. Finally, UBS Group set a $67.00 price objective on Public Service Enterprise Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Buy” and an average target price of $62.30.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Recommended Story: How to calculate compound interest

Dividend History for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.