Copperwynd Financial LLC Has $346,000 Stake in Public Service Enterprise Group Inc. (PEG)

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Copperwynd Financial LLC grew its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,641 shares of the utilities provider’s stock after acquiring an additional 236 shares during the quarter. Copperwynd Financial LLC’s holdings in Public Service Enterprise Group were worth $346,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Public Service Enterprise Group by 0.3% in the 3rd quarter. BlackRock Inc. now owns 48,101,184 shares of the utilities provider’s stock worth $2,539,261,000 after purchasing an additional 138,508 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after purchasing an additional 545,315 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after purchasing an additional 545,315 shares in the last quarter. Capital International Investors acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $493,441,000. Finally, FMR LLC boosted its position in shares of Public Service Enterprise Group by 11.8% in the 3rd quarter. FMR LLC now owns 5,397,856 shares of the utilities provider’s stock worth $284,953,000 after purchasing an additional 568,786 shares in the last quarter. 66.78% of the stock is owned by hedge funds and other institutional investors.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $55.39, for a total transaction of $2,902,823.73. Following the completion of the sale, the chairman now owns 515,233 shares of the company’s stock, valued at approximately $28,538,755.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 25,046 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $55.57, for a total value of $1,391,806.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,266 shares of company stock valued at $9,806,747. 0.58% of the stock is currently owned by insiders.

Shares of PEG opened at $56.61 on Thursday. Public Service Enterprise Group Inc. has a one year low of $46.19 and a one year high of $56.71. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.63 and a beta of 0.43.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.88 dividend on an annualized basis and a yield of 3.32%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.45. Public Service Enterprise Group’s payout ratio is currently 61.43%.

PEG has been the subject of a number of recent analyst reports. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price objective for the company in a research report on Thursday, January 17th. Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Monday, November 5th. Deutsche Bank lowered their price objective on Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Finally, Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, January 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and an average target price of $57.04.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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