Company Update (NYSE:PEG): PSEG Declares Regular Quarterly Dividend For Second Quarter Of 2016

[PR Newswire] – NEWARK, N.J., April 19, 2016 /PRNewswire/ — The Board of Directors of Public Service Enterprise Group (PEG) today declared a $0.41 per share dividend on the outstanding common stock of the company for the second quarter of 2016. The statements contained in this communication about our and our subsidiaries’ future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Read more on this. Public Service Enterprise Group Inc. (PEG) , with a current market cap of $23.83B, opened this morning at $46.71. During the trading session, PEG traded between $46.58 to $47.19 with the price of the stock fluctuating between $36.80 to $47.41 over the last 52 weeks. PEG shares are currently priced at 16.12x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.21x earnings multiple. The company pays shareholders $1.64 per share annually in dividends, yielding 3.53%. According to a consensus of 11 analysts, the earnings estimate of $0.91 per share would be $0.13 worse than the year-ago quarter and a $0.03 sequential increase. Investors should also note that the full-year EPS estimate of $2.90 is a $0.01 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.76 Billion. If reported, that would be a 12.10% decrease over the year-ago quarter. In terms of ratings, Wolfe Research downgraded PEG from Peer Perform to Underperform (Oct 20, 2015). Previously, Citigroup Initiated PEG at to Neutral. When considering if the stock is under or overvalued, the average price target is $45.81, which is 1.93% below where the stock opened this morning. See more in (NYSE:PEG) Similar Articles: Stock Update (NYSE:PEG): PSEG 5-Year Capital Investment Program Increases to $16 Billion Company Update: Public Service Enterprise Group Inc (NYSE:PEG) – PSEG Increases Common Stock Dividend Market Update: Public Service Enterprise Group Inc (NYSE:PEG) – PSEG Announces 2015 Third Quarter Results