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

Public Service Enterprise Group Inc. (NYSE:PEG) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 4,378 call options on the stock. This is an increase of approximately 6,154% compared to the typical volume of 70 call options.

Several research firms recently issued reports on PEG. UBS Group set a $67.00 price target on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Friday, July 19th. ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. KeyCorp initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 price target for the company. Finally, Barclays initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday, August 13th. They set an “overweight” rating and a $63.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $62.46.

In related news, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $58.78, for a total value of $3,080,483.46. Following the completion of the transaction, the chairman now owns 419,818 shares of the company’s stock, valued at $24,676,902.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Cregg sold 625 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $57.33, for a total transaction of $35,831.25. The disclosure for this sale can be found here. Insiders sold 164,046 shares of company stock valued at $9,529,482 in the last three months. Company insiders own 0.51% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Zions Bancorporation N.A. bought a new position in Public Service Enterprise Group in the first quarter valued at approximately $25,000. Berman Capital Advisors LLC boosted its stake in Public Service Enterprise Group by 79.0% in the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 203 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new position in Public Service Enterprise Group in the second quarter valued at approximately $29,000. Thor Advisors LLC bought a new position in Public Service Enterprise Group in the first quarter valued at approximately $45,000. Finally, Executive Wealth Management LLC boosted its stake in Public Service Enterprise Group by 137.4% in the second quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 452 shares during the last quarter. 68.74% of the stock is currently owned by hedge funds and other institutional investors.

PEG opened at $58.87 on Thursday. Public Service Enterprise Group has a one year low of $49.22 and a one year high of $61.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. The company’s 50 day simple moving average is $58.86 and its 200-day simple moving average is $58.94. The stock has a market capitalization of $29.38 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 7.90 and a beta of 0.33.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $0.64 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group will post 3.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.19%. Public Service Enterprise Group’s payout ratio is presently 60.26%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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