Public Service Enterprise Group Incorporated (PEG) To Go Ex-Dividend on March 10th

Public Service Enterprise Group Incorporated (NYSE:PEG) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Monday, March 10th will be given 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 3.01%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60.

Public Service Enterprise Group has increased its dividend by an average of 5.6% annually over the last three years and has increased 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 Stock Performance

NYSE:PEG opened at $83.82 on Thursday. The stock has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a PEG ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. The company has a 50 day moving average price of $85.62 and a 200 day moving average price of $85.66.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PEG shares. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is currently owned by insiders.

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.