Bourne Lent Asset Management Inc. Has $963,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bourne Lent Asset Management Inc. decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,397 shares of the utilities provider’s stock after selling 325 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $963,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the third quarter valued at $48,000. Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group in the third quarter valued at $59,000. Fortitude Family Office LLC grew its position in Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Public Service Enterprise Group in the second quarter valued at $66,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays decreased their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Scotiabank increased their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $90.47 on Wednesday. The firm has a 50-day moving average of $87.70 and a 200-day moving average of $84.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $45.07 billion, a PE ratio of 22.23, a P/E/G ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.65%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

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.