Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 125.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,091 shares of the utilities provider’s stock after purchasing an additional 88,973 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Public Service Enterprise Group were worth $9,639,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Boston Private Wealth LLC grew its position in Public Service Enterprise Group by 1.6% in the first quarter. Boston Private Wealth LLC now owns 10,346 shares of the utilities provider’s stock valued at $623,000 after acquiring an additional 163 shares in the last quarter. Orrstown Financial Services Inc. grew its position in Public Service Enterprise Group by 1.3% in the first quarter. Orrstown Financial Services Inc. now owns 13,206 shares of the utilities provider’s stock valued at $788,000 after acquiring an additional 173 shares in the last quarter. South Dakota Investment Council grew its position in Public Service Enterprise Group by 0.9% in the first quarter. South Dakota Investment Council now owns 20,730 shares of the utilities provider’s stock valued at $1,248,000 after acquiring an additional 181 shares in the last quarter. Benjamin Edwards Inc. grew its position in Public Service Enterprise Group by 10.9% in the first quarter. Benjamin Edwards Inc. now owns 1,855 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 183 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its position in shares of Public Service Enterprise Group by 4.8% during the first quarter. Clark Capital Management Group Inc. now owns 3,983 shares of the utilities provider’s stock worth $240,000 after buying an additional 183 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

PEG has been the subject of a number of recent analyst reports. Seaport Global Securities raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, May 24th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $67.50 in a research note on Thursday, April 29th. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $64.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. They noted that the move was a valuation call. Barclays raised their target price on Public Service Enterprise Group from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Finally, Seaport Res Ptn upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a research note on Monday, May 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $66.39.

NYSE:PEG traded up $0.11 during mid-day trading on Thursday, reaching $60.16. 34,334 shares of the stock were exchanged, compared to its average volume of 1,777,929. The business’s fifty day moving average price is $61.10. The company has a market cap of $30.41 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 4.90 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 1-year low of $50.32 and a 1-year high of $64.30. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.94.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.16. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. Public Service Enterprise Group’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 8th will be paid a $0.51 dividend. The ex-dividend date is Tuesday, September 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.39%. Public Service Enterprise Group’s dividend payout ratio is currently 59.48%.

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 29,500 shares of the firm’s stock in a transaction dated Monday, June 14th. The stock was sold at an average price of $61.71, for a total transaction of $1,820,445.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ralph A. Larossa sold 4,890 shares of Public Service Enterprise Group stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $63.87, for a total value of $312,324.30. Insiders sold a total of 40,080 shares of company stock worth $2,485,154 in the last three months. 0.52% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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