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

Tortoise Capital Advisors L.L.C. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,025 shares of the utilities provider’s stock after selling 215,099 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in Public Service Enterprise Group were worth $17,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC increased its holdings in shares of Public Service Enterprise Group by 7.9% in the second quarter. Savant Capital LLC now owns 9,432 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 692 shares during the period. Candriam S.C.A. increased its holdings in Public Service Enterprise Group by 10.7% in the 2nd quarter. Candriam S.C.A. now owns 63,611 shares of the utilities provider’s stock worth $4,688,000 after buying an additional 6,161 shares during the period. Wellington Shields Capital Management LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $66,000. Jeppson Wealth Management LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $214,000. Finally, Arizona State Retirement System boosted its holdings in shares of Public Service Enterprise Group by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 144,543 shares of the utilities provider’s stock valued at $10,653,000 after acquiring an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PEG has been the subject of a number of research reports. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Mizuho boosted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Public Service Enterprise Group Stock Down 1.2 %

Shares of NYSE PEG opened at $79.94 on Friday. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60. The company’s 50-day simple moving average is $77.98 and its 200-day simple moving average is $72.01. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

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.