Public Service Enterprise Group Incorporated (NYSE:PEG) Announces Dividend Increase – $0.63 Per Share

Public Service Enterprise Group Incorporated (NYSE:PEG) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.63 per share by the utilities provider on Monday, March 31st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60.

Public Service Enterprise Group has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Public Service Enterprise Group has a dividend payout ratio of 55.2% 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 $2.40 annual dividend with an expected future payout ratio of 59.6%.

Public Service Enterprise Group Trading Down 1.3 %

Shares of NYSE:PEG opened at $82.65 on Wednesday. Public Service Enterprise Group has a 52-week low of $57.40 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $41.18 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a 50-day simple moving average of $85.62 and a 200 day simple moving average of $85.66.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,712 shares of company stock worth $317,644. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PEG shares. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Company Profile

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.