Public Service Enterprise Group Incorporated (NYSE:PEG) announced a quarterly dividend on Tuesday, November 21st, RTT News reports. Investors of record on Friday, December 8th will be given a dividend of 0.43 per share by the utilities provider on Friday, December 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, December 7th.
Public Service Enterprise Group has decreased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 5 years. Public Service Enterprise Group has a dividend payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Public Service Enterprise Group to earn $2.98 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 57.7%.
Public Service Enterprise Group (NYSE:PEG) traded down $0.35 during midday trading on Thursday, hitting $51.98. 4,744,050 shares of the stock were exchanged, compared to its average volume of 2,818,760. Public Service Enterprise Group has a one year low of $41.14 and a one year high of $53.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80. The firm has a market cap of $26,658.12, a P/E ratio of 18.17, a P/E/G ratio of 6.58 and a beta of 0.41.
Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the company posted $0.88 EPS. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. analysts expect that Public Service Enterprise Group will post 2.92 EPS for the current fiscal year.
In other news, COO Ralph A. Larossa sold 33,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the sale, the chief operating officer now directly owns 81,241 shares in the company, valued at $4,071,798.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 79,920 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60. The disclosure for this sale can be found here. Insiders sold a total of 263,951 shares of company stock worth $13,045,041 over the last three months. 0.61% of the stock is owned by company insiders.
Several equities analysts recently issued reports on the company. Evercore ISI upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $46.75 to $50.00 in a research note on Monday, September 25th. Bank of America assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price target on the stock. Barclays raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.00 to $51.00 in a report on Friday, September 22nd. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday, October 10th. Finally, Morgan Stanley increased their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.42.
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Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.
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