Public Service Enterprise Group Incorporated (NYSE:PEG) Declares Quarterly Dividend of $0.63

Public Service Enterprise Group Incorporated (NYSE:PEG) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 0.63 per share by the utilities provider on Monday, March 31st. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60.

Public Service Enterprise Group has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Public Service Enterprise Group has a dividend payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Public Service Enterprise Group to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 59.6%.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG stock opened at $83.82 on Thursday. The company has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $85.62 and its two-hundred day moving average is $85.66. Public Service Enterprise Group has a twelve month low of $57.40 and a twelve month high of $95.22.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock worth $317,644 in the last quarter. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEG. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.