Hennessy Advisors Inc. Has $14.38 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hennessy Advisors Inc. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,690 shares of the utilities provider's stock after selling 8,800 shares during the period. Hennessy Advisors Inc.'s holdings in Public Service Enterprise Group were worth $14,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Transce3nd LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $25,000. REAP Financial Group LLC raised its position in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. bought a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $50,000. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 0.1%

PEG stock traded down $0.12 during midday trading on Tuesday, hitting $81.04. The stock had a trading volume of 2,921,640 shares, compared to its average volume of 2,802,199. Public Service Enterprise Group Incorporated has a 12-month low of $72.25 and a 12-month high of $95.22. The company's 50-day moving average price is $80.36 and its 200 day moving average price is $82.74. The firm has a market cap of $40.44 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.11%. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Wall Street Analyst Weigh In

A number of research firms have commented on PEG. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America reduced their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Evercore ISI cut their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, BMO Capital Markets cut their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $89.63.

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.