23,788 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 23,788 shares of the utilities provider’s stock, valued at approximately $2,010,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Empowered Funds LLC raised its stake in shares of Public Service Enterprise Group by 9.6% in the fourth quarter. Empowered Funds LLC now owns 9,163 shares of the utilities provider’s stock valued at $774,000 after acquiring an additional 801 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Public Service Enterprise Group by 4.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,607 shares of the utilities provider’s stock worth $896,000 after purchasing an additional 418 shares during the period. Kingsview Wealth Management LLC raised its position in Public Service Enterprise Group by 22.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,360 shares of the utilities provider’s stock valued at $622,000 after purchasing an additional 1,334 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. Apollon Wealth Management LLC now owns 15,100 shares of the utilities provider’s stock valued at $1,276,000 after buying an additional 387 shares during the period. Finally, Clarity Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $803,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,712 shares of company stock worth $317,644. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

Shares of NYSE PEG opened at $83.61 on Monday. The business has a 50-day moving average price of $85.93 and a 200 day moving average price of $85.47. The stock has a market cap of $41.66 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $57.40 and a 52-week high of $95.22.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Company 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.