Public Service Enterprise Group Incorporated $PEG Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.5% in the 4th quarter, HoldingsChannel reports. The fund owned 35,440 shares of the utilities provider’s stock after buying an additional 10,572 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Public Service Enterprise Group were worth $2,846,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEG. Rossby Financial LCC increased its position in Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after buying an additional 121 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the period. JPL Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after acquiring an additional 122 shares during the period. Transcend Capital Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 125 shares during the period. Finally, Strategic Investment Advisors MI boosted its holdings in shares of Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 127 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.1%

Public Service Enterprise Group stock opened at $79.61 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25. The stock has a 50 day moving average of $80.51 and a two-hundred day moving average of $81.22. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $39.67 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 2.99 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PEG shares. Truist Financial decreased their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. JPMorgan Chase & Co. increased their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the sale, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,949 shares of company stock valued at $902,747 over the last ninety days. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Company 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.