Public Service Enterprise Group Sees Unusually High Options Volume (NYSE:PEG)

Public Service Enterprise Group Inc. (NYSE:PEG) was the target of unusually large options trading on Tuesday. Stock traders acquired 1,332 put options on the company. This is an increase of 2,413% compared to the typical daily volume of 53 put options.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. JPMorgan Chase & Co. cut shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $64.00 to $62.00 in a research report on Tuesday, April 23rd. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 target price for the company in a research report on Thursday, January 17th. Finally, Wolfe Research upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Buy” and an average price target of $59.73.

Shares of PEG stock traded up $1.02 on Friday, hitting $59.31. The stock had a trading volume of 1,319,576 shares, compared to its average volume of 3,020,791. Public Service Enterprise Group has a twelve month low of $49.22 and a twelve month high of $60.36. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40. The company has a quick ratio of 0.52, a current ratio of 0.68 and a debt-to-equity ratio of 0.91.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts expect that Public Service Enterprise Group will post 3.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, June 6th. Public Service Enterprise Group’s payout ratio is presently 60.26%.

In other Public Service Enterprise Group news, VP Stuart J. Black sold 6,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.07, for a total transaction of $354,420.00. Following the sale, the vice president now directly owns 24,981 shares of the company’s stock, valued at $1,475,627.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 52,406 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.12, for a total value of $3,098,242.72. Following the sale, the chairman now directly owns 443,232 shares in the company, valued at $26,203,875.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,054 shares of company stock worth $10,620,958. 0.51% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caxton Associates LP acquired a new position in Public Service Enterprise Group in the 4th quarter worth $264,000. Candriam Luxembourg S.C.A. boosted its stake in Public Service Enterprise Group by 50.8% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 55,187 shares of the utilities provider’s stock worth $2,872,000 after purchasing an additional 18,581 shares during the period. Bessemer Group Inc. boosted its stake in shares of Public Service Enterprise Group by 12.1% during the 4th quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock worth $137,000 after buying an additional 284 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Public Service Enterprise Group by 7.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the utilities provider’s stock worth $4,761,000 after buying an additional 6,081 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Public Service Enterprise Group by 51.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 81,154 shares of the utilities provider’s stock worth $4,224,000 after buying an additional 27,740 shares during the last quarter. 69.02% of the stock is owned by hedge funds and other institutional investors.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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