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

Key Points

• Hennessy Advisors Inc. increased its stake in Public Service Enterprise Group (PEG) by 5.8% to 184,890 shares, worth approximately $15.56 million.
• Public Service Enterprise Group reported a quarterly EPS of $0.77, exceeding analysts' expectations, with revenue of $2.81 billion, a 15.8% increase year-over-year.
• The company recently announced a quarterly dividend of $0.63 per share, resulting in an annualized dividend yield of 3.1% and a payout ratio of 63.64%.

Hennessy Advisors Inc. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. QRG Capital Management Inc. raised its position in Public Service Enterprise Group by 1.9% during the second quarter. QRG Capital Management Inc. now owns 47,320 shares of the utilities provider's stock valued at $3,983,000 after buying an additional 882 shares during the period. Segment Wealth Management LLC raised its position in Public Service Enterprise Group by 34.2% during the second quarter. Segment Wealth Management LLC now owns 4,744 shares of the utilities provider's stock valued at $399,000 after buying an additional 1,208 shares during the period. Fortis Capital Advisors LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at $957,000. Hilltop National Bank purchased a new position in Public Service Enterprise Group in the second quarter valued at about $1,180,000. Finally, Triad Wealth Partners LLC grew its stake in Public Service Enterprise Group by 12.5% in the second quarter. Triad Wealth Partners LLC now owns 5,207 shares of the utilities provider's stock valued at $438,000 after purchasing an additional 577 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $82.02 on Friday. The stock has a 50 day moving average of $83.92 and a two-hundred day moving average of $82.23. The company has a current ratio of 1.00, a quick ratio of 0.76 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 company has a market capitalization of $40.93 billion, a P/E ratio of 20.71, a P/E/G ratio of 2.83 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) 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 company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $0.63 EPS. The company's quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $0.63 dividend. 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 dividend payout ratio is presently 63.64%.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Saturday, September 27th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Morgan Stanley decreased their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Finally, Barclays decreased their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.85.

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.

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