Aviso Financial Inc. Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Aviso Financial Inc. lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent filing 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 as of its most recent filing with the SEC.

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

Public Service Enterprise Group Stock Up 1.3 %

NYSE:PEG traded up $1.04 during mid-day trading on Wednesday, hitting $83.21. 3,738,411 shares of the company's stock were exchanged, compared to its average volume of 2,546,310. Public Service Enterprise Group Incorporated has a one year low of $63.54 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business has a fifty day moving average price of $83.61 and a 200 day moving average price of $86.04. The company has a market cap of $41.48 billion, a PE ratio of 20.44, a P/E/G ratio of 2.78 and a beta of 0.60.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Public Service Enterprise Group's quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. Public Service Enterprise Group's payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Barclays cut shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Bank of America decreased their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.27.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Profile

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.