Bourne Lent Asset Management Inc. Sells 325 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Bourne Lent Asset Management Inc. trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 11,397 shares of the utilities provider’s stock after selling 325 shares during the quarter. 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 institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. Kimelman & Baird LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $66,000. Finally, Fortitude Family Office LLC lifted its position in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted 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. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 over the last three months. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

PEG stock 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 current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The firm has a market capitalization of $45.07 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $0.85 earnings per share. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.65%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Public Service Enterprise Group Company 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.