Public Service Enterprise Group Incorporated (PEG) to Issue Quarterly Dividend of $0.63 on December 31st

by · The Markets Daily

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) announced a quarterly dividend on Tuesday, November 18th. Shareholders of record on Wednesday, December 10th will be paid a dividend of 0.63 per share by the utilities provider on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 10th.

Public Service Enterprise Group has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 14 years. Public Service Enterprise Group has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 1.4%

Shares of NYSE PEG opened at $79.63 on Monday. The company’s 50 day simple moving average is $82.21 and its 200 day simple moving average is $82.72. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week high of $91.62. The firm has a market capitalization of $39.75 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.43 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Check Out Our Latest Analysis on Public Service Enterprise Group

Public Service Enterprise Group Company Profile

(Get Free Report)

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.

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