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Public Service Enterprise Group Incorporated (PEG) Plans $0.43 Quarterly Dividend
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Public Service Enterprise Group has decreased its dividend by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Public Service Enterprise Group has a payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Public Service Enterprise Group to earn $2.92 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 58.9%.
Shares of Public Service Enterprise Group (PEG) opened at 43.56 on Wednesday. The firm has a market capitalization of $22.04 billion, a PE ratio of 41.88 and a beta of 0.38. The company has a 50-day moving average of $43.64 and a 200 day moving average of $44.03. Public Service Enterprise Group has a 12-month low of $39.28 and a 12-month high of $46.68.
Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the business earned $0.91 earnings per share. On average, analysts predict that Public Service Enterprise Group will post $2.90 EPS for the current year.
Several research analysts recently commented on PEG shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. Deutsche Bank AG reduced their target price on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Barclays PLC reduced their target price on Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 4th. Finally, Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $47.10.
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In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 24,021 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the transaction, the chairman now directly owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Insiders sold a total of 86,021 shares of company stock worth $3,733,335 in the last 90 days. Company insiders own 0.61% of the company’s stock.
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.