Thrivent Financial for Lutherans Lowers Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Thrivent Financial for Lutherans lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 97.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,868 shares of the utilities provider’s stock after selling 1,085,299 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Public Service Enterprise Group were worth $2,075,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $27,000. GoalVest Advisory LLC increased its stake in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a report on Wednesday, January 7th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Finally, Barclays lowered their price target on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Stock Up 1.2%

Shares of Public Service Enterprise Group stock opened at $84.17 on Thursday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock has a market cap of $42.01 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.69 and a beta of 0.59. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $80.02 and a 200 day moving average price of $82.06.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.