Hennessy Advisors Inc. raised its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 9.8% during the third quarter, Holdings Channel reports. The fund owned 743,290 shares of the company’s stock after buying an additional 66,500 shares during the period. Hennessy Advisors Inc.’s holdings in Public Service Enterprise Group were worth $31,122,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PEG. Community Bank N.A. increased its position in shares of Public Service Enterprise Group by 3.2% in the third quarter. Community Bank N.A. now owns 91,561 shares of the company’s stock valued at $3,833,000 after buying an additional 2,880 shares in the last quarter. Orrstown Financial Services Inc. increased its position in shares of Public Service Enterprise Group by 0.5% in the third quarter. Orrstown Financial Services Inc. now owns 20,482 shares of the company’s stock valued at $857,000 after buying an additional 105 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Public Service Enterprise Group by 1.8% in the third quarter. Capstone Asset Management Co. now owns 87,629 shares of the company’s stock valued at $3,669,000 after buying an additional 1,560 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of Public Service Enterprise Group by 57.4% in the third quarter. Fox Run Management L.L.C. now owns 9,600 shares of the company’s stock valued at $402,000 after buying an additional 3,500 shares in the last quarter. Finally, Pensionfund Sabic purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at $1,759,000. 64.42% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.49% during mid-day trading on Tuesday, hitting $43.01. 356,490 shares of the stock traded hands. Public Service Enterprise Group Inc. has a 12 month low of $36.80 and a 12 month high of $47.41. The company has a market cap of $21.76 billion, a P/E ratio of 16.93 and a beta of 0.28. The firm has a 50 day moving average of $41.06 and a 200 day moving average of $43.35.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, October 31st. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.05. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities analysts anticipate that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 64.57%.

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Several research analysts recently weighed in on the stock. Barclays PLC upped their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, September 22nd. Argus dropped their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 20th. Jefferies Group reaffirmed a “hold” rating and issued a $43.50 target price on shares of Public Service Enterprise Group in a report on Tuesday, November 1st. Goldman Sachs Group Inc. raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $47.00 in a report on Monday, October 17th. Finally, Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.50.

In other news, Chairman Ralph Izzo sold 25,993 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $41.36, for a total value of $1,075,070.48. Following the sale, the chairman now directly owns 727,346 shares of the company’s stock, valued at approximately $30,083,030.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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