Compass Financial Group INC SD Makes New $202,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Compass Financial Group INC SD acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,297 shares of the utilities provider’s stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. Guggenheim Capital LLC grew its position in shares of Public Service Enterprise Group by 9.2% in the 2nd quarter. Guggenheim Capital LLC now owns 120,358 shares of the utilities provider’s stock worth $7,536,000 after acquiring an additional 10,190 shares in the last quarter. Xponance Inc. grew its position in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock worth $3,655,000 after acquiring an additional 2,825 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Public Service Enterprise Group by 58.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,477 shares of the utilities provider’s stock worth $22,620,000 after acquiring an additional 146,463 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Public Service Enterprise Group by 338.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 203,306 shares of the utilities provider’s stock valued at $11,570,000 after purchasing an additional 156,887 shares during the period. Finally, Royal Bank of Canada boosted its position in Public Service Enterprise Group by 72.7% during the 3rd quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock valued at $54,845,000 after purchasing an additional 405,533 shares during the period. Institutional investors and hedge funds own 72.28% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3 %

Shares of PEG stock traded down $0.20 on Friday, reaching $63.79. 5,536,426 shares of the company’s stock traded hands, compared to its average volume of 2,870,649. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $65.59. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The company has a market capitalization of $31.81 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 3.52 and a beta of 0.57. The business’s 50 day moving average price is $60.48 and its two-hundred day moving average price is $60.92.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 17.0% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $0.60 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.76%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PEG shares. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.25.

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Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold 6,574 shares of company stock worth $418,428 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

(Free Report)

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.

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

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