Public Service Enterprise Group Incorporated (NYSE:PEG) Declares Quarterly Dividend of $0.51

Public Service Enterprise Group Incorporated (NYSE:PEG) announced a quarterly dividend on Tuesday, July 20th, RTT News reports. Stockholders of record on Wednesday, September 8th will be given a dividend of 0.51 per share by the utilities provider on Thursday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.36%.

Public Service Enterprise Group has increased its dividend payment by 14.0% over the last three years and has raised its dividend annually for the last 1 consecutive years.

Shares of Public Service Enterprise Group stock opened at $60.67 on Wednesday. The stock has a market capitalization of $30.67 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 4.89 and a beta of 0.54. Public Service Enterprise Group has a fifty-two week low of $50.32 and a fifty-two week high of $64.30. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $61.11.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.25 billion. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts predict that Public Service Enterprise Group will post 3.48 earnings per share for the current fiscal year.

In related news, major shareholder Edward S. Lampert sold 265,348 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $103.58, for a total transaction of $27,484,745.84. Also, COO Ralph A. Larossa sold 4,890 shares of the firm’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $62.05, for a total value of $303,424.50. Following the transaction, the chief operating officer now directly owns 89,918 shares in the company, valued at approximately $5,579,411.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 305,028 shares of company stock worth $29,945,364. Corporate insiders own 0.52% of the company’s stock.

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $64.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $67.50 in a research note on Thursday, April 29th. KeyCorp upped their price target on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. Seaport Global Securities upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, May 24th. Finally, Barclays increased their price objective on Public Service Enterprise Group from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Public Service Enterprise Group has an average rating of “Buy” and a consensus target price of $66.39.

Public Service Enterprise Group Company Profile

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 PSEG 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.

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

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