Franklin Resources Inc. Purchases 154,954 Shares of Public Service Enterprise Group Incorporated $PEG

Franklin Resources Inc. raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,406,187 shares of the utilities provider’s stock after purchasing an additional 154,954 shares during the period. Franklin Resources Inc.’s holdings in Public Service Enterprise Group were worth $193,217,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Rossby Financial LCC increased its stake in Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 121 shares in the last quarter. Colonial Trust Co SC increased its stake in Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares in the last quarter. JPL Wealth Management LLC increased its stake in Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares in the last quarter. Strategic Investment Advisors MI increased its stake in Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after purchasing an additional 127 shares in the last quarter. Finally, Simplicity Wealth LLC increased its stake in Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PEG shares. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock worth $498,795 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Up 1.0%

Shares of PEG stock opened at $78.53 on Wednesday. The firm has a fifty day moving average of $79.70 and a 200-day moving average of $80.91. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a market capitalization of $39.13 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.93 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.