Public Service Enterprise Group Incorporated (NYSE:PEG) Declares Quarterly Dividend of $0.67

Key Points

• Public Service Enterprise Group declared a quarterly dividend of $0.67 per share, payable June 30 to shareholders of record June 9, which annualizes to a 3.4% yield.
• The company has raised its dividend for 14 consecutive years; its current payout ratio is 61.8%, while analyst forecasts and company guidance (FY EPS ~$4.28–$4.70) imply the $2.68 annual dividend should remain covered.
• Shares opened at $78.57 (down 2.7%), with a market cap of about $39.2 billion, a P/E of 18.6, and a consensus analyst rating of "Moderate Buy" with a $93.25 target.

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Tuesday, June 9th will be given a dividend of 0.67 per share by the utilities provider on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th.

Public Service Enterprise Group has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Public Service Enterprise Group has a payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Public Service Enterprise Group to earn $4.70 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 57.0%.

Public Service Enterprise Group Stock Down 2.7%

NYSE:PEG opened at $78.57 on Wednesday. The firm's 50 day simple moving average is $83.09 and its 200 day simple moving average is $81.75. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. Public Service Enterprise Group has a one year low of $76.00 and a one year high of $91.25. The company has a market cap of $39.19 billion, a PE ratio of 18.62, a P/E/G ratio of 2.63 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the company earned $0.84 EPS. The firm's revenue was up 18.3% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate that Public Service Enterprise Group will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Barclays raised their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Argus upgraded shares of Public Service Enterprise Group to a "strong-buy" rating in a report on Wednesday, January 14th. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group NYSE: PEG is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company's activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.

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