Public Service Enterprise Group Inc. (NYSE:PEG)’s share price traded up 2.1% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $41.34 and last traded at $40.48, with a volume of 2,004,563 shares. The stock had previously closed at $41.33.

The newly announced dividend which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Wednesday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 64.57%.

A number of equities research analysts recently weighed in on PEG shares. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Argus decreased their target price on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. Jefferies Group reissued a “hold” rating and set a $43.50 target price on shares of Public Service Enterprise Group in a research report on Tuesday, November 1st. Barclays PLC lifted their target price on Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $47.00 in a research report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.50.

The stock has a market capitalization of $20.60 billion, a P/E ratio of 16.03 and a beta of 0.28. The stock’s 50-day moving average price is $41.11 and its 200-day moving average price is $43.64.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, October 31st. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same period in the previous year, the company posted $0.80 EPS. On average, equities analysts forecast that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 25,895 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $41.74, for a total value of $1,080,857.30. Following the transaction, the chairman now directly owns 738,182 shares of the company’s stock, valued at approximately $30,811,716.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Asset Strategies Inc. boosted its position in Public Service Enterprise Group by 0.4% in the third quarter. United Asset Strategies Inc. now owns 5,672 shares of the company’s stock valued at $237,000 after buying an additional 22 shares in the last quarter. Alpha Windward LLC boosted its position in Public Service Enterprise Group by 0.6% in the third quarter. Alpha Windward LLC now owns 4,762 shares of the company’s stock valued at $199,000 after buying an additional 28 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Public Service Enterprise Group by 0.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 6,976 shares of the company’s stock valued at $325,000 after buying an additional 33 shares in the last quarter. Beacon Trust Co. boosted its position in Public Service Enterprise Group by 0.5% in the second quarter. Beacon Trust Co. now owns 8,751 shares of the company’s stock valued at $408,000 after buying an additional 44 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Public Service Enterprise Group by 0.6% in the second quarter. Synovus Financial Corp now owns 9,326 shares of the company’s stock valued at $433,000 after buying an additional 53 shares in the last quarter. 66.64% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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