Public Service Enterprise Group Incorporated (NYSE:PEG) declared a quarterly dividend on Tuesday, November 21st, RTT News reports. Investors of record on Friday, December 8th will be paid 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 3.26%. The ex-dividend date is Thursday, December 7th.

Public Service Enterprise Group has decreased its dividend payment 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% indicating that 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) opened at $52.68 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. The firm has a market capitalization of $26,764.39, a price-to-earnings ratio of 18.24, a P/E/G ratio of 6.61 and a beta of 0.41. Public Service Enterprise Group has a 52-week low of $41.14 and a 52-week high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. analysts predict that Public Service Enterprise Group will post 2.92 earnings per share for the current fiscal year.

Several research firms have commented on PEG. Citigroup reissued a “neutral” rating and issued a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Morgan Stanley raised their price objective 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. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.50 to $50.00 in a research report on Friday, August 11th. BidaskClub raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, September 14th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $50.42.

In other news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $46.50, for a total transaction of $968,734.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Insiders have sold 263,951 shares of company stock valued at $13,045,041 over the last 90 days. Insiders own 0.61% of the company’s stock.

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About Public Service Enterprise Group

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.

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

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