Public Service Enterprise Group Target of Unusually High Options Trading (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the target of some unusual options trading activity on Friday. Investors bought 3,519 put options on the company. This is an increase of approximately 149% compared to the typical volume of 1,411 put options.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.05 during midday trading on Friday, reaching $78.15. The stock had a trading volume of 1,009,291 shares, compared to its average volume of 2,589,954. The firm has a market cap of $38.93 billion, a PE ratio of 19.18, a P/E/G ratio of 2.78 and a beta of 0.64. The firm has a 50 day simple moving average of $84.39 and a 200-day simple moving average of $86.00. Public Service Enterprise Group has a one year low of $63.31 and a one year high of $95.22. 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 (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.22%. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Public Service Enterprise Group by 47.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,681 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 1,184 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Public Service Enterprise Group by 1.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 123,964 shares of the utilities provider’s stock worth $11,059,000 after purchasing an additional 2,128 shares during the period. Crestwood Advisors Group LLC raised its stake in Public Service Enterprise Group by 3.7% in the third quarter. Crestwood Advisors Group LLC now owns 3,995 shares of the utilities provider’s stock valued at $356,000 after purchasing an additional 142 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Public Service Enterprise Group by 7.4% during the third quarter. Concurrent Investment Advisors LLC now owns 15,075 shares of the utilities provider’s stock worth $1,345,000 after purchasing an additional 1,043 shares during the period. Finally, Graypoint LLC grew its stake in Public Service Enterprise Group by 7.8% during the third quarter. Graypoint LLC now owns 4,323 shares of the utilities provider’s stock worth $386,000 after buying an additional 313 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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.