Public Service Enterprise Group Incorporated (NYSE:PEG) Announces $0.63 Quarterly Dividend

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) announced a quarterly dividend on Monday, July 21st, RTT News reports. Stockholders of record on Tuesday, September 9th will be paid a dividend of 0.63 per share by the utilities provider on Tuesday, September 30th. This represents a $2.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, September 9th.

Public Service Enterprise Group has a payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Public Service Enterprise Group to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 62.5%.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded down $0.08 during trading hours on Thursday, hitting $86.59. The stock had a trading volume of 220,934 shares, compared to its average volume of 2,909,516. Public Service Enterprise Group has a one year low of $73.83 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The stock's 50-day moving average price is $81.45 and its two-hundred day moving average price is $82.10. The stock has a market capitalization of $43.21 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.07 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Public Service Enterprise Group stock. Empowered Funds LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,103 shares of the utilities provider's stock after buying an additional 940 shares during the period. Empowered Funds LLC's holdings in Public Service Enterprise Group were worth $831,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PEG. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $97.00 in a research note on Monday, July 7th. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $89.95.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.