Stock Traders Buy Large Volume of Public Service Enterprise Group Put Options (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the recipient of unusually large options trading on Monday. Traders bought 8,216 put options on the stock. This is an increase of approximately 300% compared to the typical daily volume of 2,054 put options.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $83.78 on Wednesday. The firm’s 50 day simple moving average is $86.56 and its 200-day simple moving average is $78.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group has a one year low of $56.85 and a one year high of $92.20. The firm has a market cap of $41.74 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the business posted $0.85 EPS. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group will post 3.66 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $71,298,000. Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Public Service Enterprise Group by 381.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after buying an additional 634,587 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEG. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Scotiabank increased their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.69.

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.