Investors Buy High Volume of Public Service Enterprise Group Call Options (PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the recipient of some unusual options trading on Wednesday. Traders bought 15,055 call options on the stock. This is an increase of approximately 4,518% compared to the average daily volume of 326 call options.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Wells Fargo & Company raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Argus increased their price target on Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Bank of America assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price target for the company. Finally, J P Morgan Chase & Co increased their price target on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.42.

Shares of Public Service Enterprise Group (NYSE PEG) opened at $51.93 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80. The stock has a market capitalization of $26,180.00, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 6.59 and a beta of 0.41. Public Service Enterprise Group has a one year low of $41.67 and a one year high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. Public Service Enterprise Group’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. equities analysts expect that Public Service Enterprise Group will post 2.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 annualized dividend and a yield of 3.31%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 168.63%.

In related news, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total value of $1,653,960.00. Following the completion of the sale, the chief operating officer now owns 81,241 shares of the company’s stock, valued at $4,071,798.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 79,920 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,951 shares of company stock valued at $13,045,041. Insiders own 0.61% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PEG. Premier Asset Management LLC grew its stake in shares of Public Service Enterprise Group by 0.6% in the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock valued at $230,000 after buying an additional 31 shares in the last quarter. Wsfs Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 0.5% in the second quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock valued at $392,000 after buying an additional 44 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Public Service Enterprise Group by 0.5% in the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock valued at $435,000 after buying an additional 48 shares in the last quarter. FCG Advisors LLC grew its stake in shares of Public Service Enterprise Group by 0.4% in the second quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock valued at $516,000 after buying an additional 52 shares in the last quarter. Finally, BRYN MAWR TRUST Co grew its stake in shares of Public Service Enterprise Group by 1.2% in the second quarter. BRYN MAWR TRUST Co now owns 5,961 shares of the utilities provider’s stock valued at $256,000 after buying an additional 73 shares in the last quarter. 66.77% of the stock is owned by institutional investors.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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