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 3.09%.
Public Service Enterprise Group has raised its dividend by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 7 years. Public Service Enterprise Group has a dividend payout ratio of 60.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Public Service Enterprise Group to earn $3.46 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 54.3%.
Shares of PEG stock opened at $60.89 on Thursday. The company’s 50-day moving average price is $59.90. Public Service Enterprise Group has a fifty-two week low of $49.22 and a fifty-two week high of $61.63. The company has a market capitalization of $30.58 billion, a PE ratio of 19.52, a P/E/G ratio of 3.29 and a beta of 0.38. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52.
Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company posted $0.97 EPS. Sell-side analysts expect that Public Service Enterprise Group will post 3.27 EPS for the current year.
In related news, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $59.25, for a total value of $37,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $58.51, for a total value of $96,541.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,045 shares of company stock valued at $9,636,087. Company insiders own 0.51% of the company’s stock.
A number of research firms recently weighed in on PEG. JPMorgan Chase & Co. set a €54.00 ($62.79) price target on Axel Springer and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Morgan Stanley set a $18.00 price target on PG&E and gave the company a “hold” rating in a research report on Friday, June 14th. Mizuho increased their price target on Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, KeyCorp began coverage on Southern in a research report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $60.75.
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.
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