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

Public Service Enterprise Group Incorporated (NYSE:PEG) declared a quarterly dividend on Tuesday, November 18th. Stockholders 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) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 10th.

Public Service Enterprise Group has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. Public Service Enterprise Group has a payout ratio of 58.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 0.1%

Shares of Public Service Enterprise Group stock traded down $0.06 on Tuesday, hitting $82.41. 1,857,422 shares of the company traded hands, compared to its average volume of 2,825,015. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.13 billion, a PE ratio of 20.81, a PEG ratio of 2.46 and a beta of 0.55. The stock’s 50 day moving average price is $82.21 and its 200-day moving average price is $82.44. Public Service Enterprise Group has a 52 week low of $74.67 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the second quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $27,000. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $27,000. Finally, GoalVest Advisory LLC lifted its position in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.