Public Service Enterprise Group Inc. Declares Quarterly Dividend of $0.47 (PEG)

Public Service Enterprise Group Inc. (NYSE:PEG) announced a quarterly dividend on Tuesday, April 16th, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.47 per share by the utilities provider on Friday, June 28th. This represents a $1.88 annualized dividend and a dividend yield of 3.20%.

Public Service Enterprise Group has raised its dividend payment by an average of 4.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Public Service Enterprise Group has a dividend payout ratio of 60.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Public Service Enterprise Group to earn $3.50 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 53.7%.

NYSE:PEG opened at $58.75 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $30.29 billion, a PE ratio of 18.83, a P/E/G ratio of 2.95 and a beta of 0.41. Public Service Enterprise Group has a one year low of $49.02 and a one year high of $60.36.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.40 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. During the same period in the prior year, the business posted $0.57 EPS. Sell-side analysts expect that Public Service Enterprise Group will post 3.24 EPS for the current fiscal year.

Several equities research analysts have recently commented on PEG shares. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price objective for the company in a research note on Thursday, January 17th. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective for the company. in a research note on Thursday, February 28th. Wolfe Research upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Wells Fargo & Co upped their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, January 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $59.10.

In related news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $54.31, for a total value of $2,846,224.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 13,535 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.04, for a total transaction of $812,641.40. Following the completion of the transaction, the executive vice president now directly owns 49,909 shares of the company’s stock, valued at approximately $2,996,536.36. The disclosure for this sale can be found here. Insiders sold a total of 176,755 shares of company stock valued at $10,174,717 in the last ninety days. 0.51% of the stock is currently owned by insiders.

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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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Dividend History for Public Service Enterprise Group (NYSE:PEG)

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