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

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60.

Public Service Enterprise Group has increased its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 13 years. Public Service Enterprise Group has a dividend payout ratio of 58.1% 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 $2.52 annual dividend with an expected future payout ratio of 62.5%.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded down $0.00 during mid-day trading on Friday, reaching $83.88. 848,393 shares of the stock traded hands, compared to its average volume of 2,142,391. The business has a 50-day moving average of $85.31 and a 200 day moving average of $85.64. Public Service Enterprise Group has a fifty-two week low of $58.96 and a fifty-two week high of $95.22. The stock has a market capitalization of $41.79 billion, a PE ratio of 20.60, a PEG ratio of 2.77 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the 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 owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock worth $317,644 over the last ninety days. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. UBS Group upped their price target on 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. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.83.

About Public Service Enterprise Group

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.