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.
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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