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

Public Service Enterprise Group Incorporated (NYSE:PEG) was the recipient of unusually large options trading on Friday. Traders acquired 3,519 put options on the company. This represents an increase of approximately 149% compared to the average volume of 1,411 put options.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of PEG. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $25,000. REAP Financial Group LLC lifted its holdings in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock opened at $79.10 on Friday. The stock has a market capitalization of $39.44 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a 12-month low of $63.31 and a 12-month 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. The stock’s 50 day simple moving average is $84.27 and its 200 day simple moving average is $86.03.

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. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEG. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.83.

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.