Thrivent Financial for Lutherans Has $106.03 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Thrivent Financial for Lutherans grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,188,556 shares of the utilities provider’s stock after acquiring an additional 6,958 shares during the period. Thrivent Financial for Lutherans’ holdings in Public Service Enterprise Group were worth $106,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Family Firm Inc. acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $88.99 on Monday. The stock has a 50 day simple moving average of $87.50 and a 200 day simple moving average of $80.03. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $44.34 billion, a PE ratio of 21.86, a P/E/G ratio of 3.27 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEG. Barclays cut their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Scotiabank raised their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped 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 research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,783 shares of company stock worth $2,381,626. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group 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.