Investors Purchase Large Volume of Public Service Enterprise Group Put Options (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 3,519 put options on the company. This represents an increase of approximately 149% compared to the average daily volume of 1,411 put options.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $79.10 on Friday. The company’s fifty day simple moving average is $84.27 and its 200-day simple moving average is $85.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $39.44 billion, a PE ratio of 19.43, a P/E/G 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.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities research analysts expect that Public Service Enterprise Group will post 3.67 EPS 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. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analyst Weigh In

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

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEG. Farther Finance Advisors LLC raised its position in Public Service Enterprise Group by 47.4% during the third quarter. Farther Finance Advisors LLC now owns 3,681 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 1,184 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Public Service Enterprise Group by 1.7% during 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 acquiring an additional 2,128 shares in the last quarter. Crestwood Advisors Group LLC raised its position in Public Service Enterprise Group by 3.7% during the third quarter. Crestwood Advisors Group LLC now owns 3,995 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 142 shares in the last quarter. Concurrent Investment Advisors LLC raised 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 acquiring an additional 1,043 shares in the last quarter. Finally, Graypoint LLC raised its position 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 acquiring an additional 313 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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.