Franklin Resources Inc. Has $142.58 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Franklin Resources Inc. raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,331,709 shares of the utilities provider’s stock after acquiring an additional 259,694 shares during the period. Franklin Resources Inc.’s holdings in Public Service Enterprise Group were worth $142,584,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after buying an additional 7,103,657 shares in the last quarter. Norges Bank bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $215,074,000. Hsbc Holdings PLC grew its position in Public Service Enterprise Group by 118.1% during the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after acquiring an additional 738,684 shares during the last quarter. JPMorgan Chase & Co. grew its position in Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in Public Service Enterprise Group by 1,350.4% during the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after acquiring an additional 496,581 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

PEG has been the topic of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Scotiabank decreased their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays increased their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Finally, Mizuho increased their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Public Service Enterprise Group Stock Performance

PEG stock opened at $74.33 on Thursday. The business’s fifty day moving average is $68.25 and its 200-day moving average is $63.77. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The company has a market cap of $37.02 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.83 and a beta of 0.56. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.17.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period last year, the company earned $1.39 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

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.