Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Aviso Financial Inc.

Aviso Financial Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,510 shares of the utilities provider’s stock after selling 4,765 shares during the period. Aviso Financial Inc.’s holdings in Public Service Enterprise Group were worth $635,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEG shares. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Guggenheim reissued a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.83.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the 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 completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

PEG stock opened at $81.59 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. The business has a fifty day simple moving average of $83.74 and a 200-day simple moving average of $85.95. Public Service Enterprise Group Incorporated has a 52 week low of $63.31 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.