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

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Monday, June 9th will be paid a dividend of 0.63 per share by the utilities provider on Monday, June 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th.

Public Service Enterprise Group has increased its dividend payment by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 14 years. Public Service Enterprise Group has a payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. 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

NYSE PEG traded down $0.92 during trading hours on Friday, reaching $80.80. 618,947 shares of the company's stock were exchanged, compared to its average volume of 2,803,120. The firm has a fifty day moving average of $81.70 and a 200-day moving average of $85.28. Public Service Enterprise Group has a one year low of $66.57 and a one year high of $95.22. The stock has a market cap of $40.28 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business's revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PEG shares. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research note on Wednesday, March 19th. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Guggenheim reissued a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.35.

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.