Hennessy Advisors Inc. Has $15.56 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Hennessy Advisors Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,890 shares of the utilities provider’s stock after buying an additional 10,200 shares during the period. Hennessy Advisors Inc.’s holdings in Public Service Enterprise Group were worth $15,564,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter valued at $298,000. Exchange Traded Concepts LLC increased its holdings in Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock valued at $7,417,000 after purchasing an additional 3,601 shares in the last quarter. Finally, Chemistry Wealth Management LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $579,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.5%

Shares of Public Service Enterprise Group stock opened at $82.02 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The business has a fifty day simple moving average of $83.92 and a 200 day simple moving average of $82.23. The stock has a market cap of $40.93 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s payout ratio is 63.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Barclays decreased their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.85.

About Public Service Enterprise Group

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.