Public Service Enterprise Group Incorporated (NYSE:PEG) Declares Quarterly Dividend of $0.60

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Investors of record on Tuesday, December 10th will be paid a dividend of 0.60 per share by the utilities provider on Tuesday, December 31st. This represents a $2.40 annualized dividend and a yield of 2.66%.

Public Service Enterprise Group has increased its dividend by an average of 5.2% 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 59.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Public Service Enterprise Group to earn $4.07 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 59.0%.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $0.66 during mid-day trading on Tuesday, hitting $90.09. 2,313,798 shares of the stock traded hands, compared to its average volume of 2,776,120. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company's 50-day simple moving average is $87.68 and its 200-day simple moving average is $80.17. The firm has a market cap of $44.89 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Public Service Enterprise Group's revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Public Service Enterprise Group will post 3.66 earnings per share for the current year.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,783 shares of company stock valued at $2,381,626. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a "hold" rating and a $85.00 target price for the company. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Finally, Scotiabank lifted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

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.