Rench Wealth Management Inc. increased its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 7.1% during the 4th quarter, HoldingsChannel reports. The firm owned 50,995 shares of the utilities provider’s stock after acquiring an additional 3,367 shares during the quarter. Rench Wealth Management Inc.’s holdings in Public Service Enterprise Group were worth $2,626,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its position in Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 202 shares in the last quarter. Grove Bank & Trust boosted its position in Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 1,539 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $185,000. Fox Run Management L.L.C. bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $206,000. Finally, WASHINGTON TRUST Co bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $210,000. 66.85% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the company. Jefferies Group reaffirmed a “hold” rating and set a $46.50 target price on shares of Public Service Enterprise Group in a research report on Thursday, October 12th. Macquarie raised Public Service Enterprise Group from a “neutral” rating to an “outperform” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. increased their price objective on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, UBS Group assumed coverage on Public Service Enterprise Group in a report on Friday, February 2nd. They set a “neutral” rating and a $52.00 price objective for the company. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $51.46.

Shares of Public Service Enterprise Group Inc. (NYSE PEG) opened at $46.73 on Friday. Public Service Enterprise Group Inc. has a twelve month low of $41.67 and a twelve month high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $24,138.05, a price-to-earnings ratio of 45.37, a PEG ratio of 4.51 and a beta of 0.39.

In related news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the transaction, the chairman now owns 687,600 shares of the company’s stock, valued at approximately $36,374,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,684 shares of company stock valued at $3,344,767. Company insiders own 0.61% of the company’s stock.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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