Entropy Technologies LP Takes $2.01 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Entropy Technologies LP bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 23,788 shares of the utilities provider’s stock, valued at approximately $2,010,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after purchasing an additional 49,285 shares in the last quarter. FMR LLC raised its position in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Jennison Associates LLC lifted its stake in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after buying an additional 19,650 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after buying an additional 663,012 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PEG shares. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. UBS Group raised their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted 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. Scotiabank increased their target price 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. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $83.61 on Monday. The stock has a market cap of $41.66 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. 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 firm has a 50 day simple moving average of $85.93 and a 200-day simple moving average of $85.47. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.87%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated 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 directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,712 shares of company stock worth $317,644 over the last quarter. 0.57% of the stock is currently owned by company insiders.

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.