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

Public Service Enterprise Group Incorporated (NYSE:PEG) saw some unusual options trading activity on Monday. Stock traders acquired 4,144 call options on the stock. This represents an increase of approximately 116% compared to the typical volume of 1,918 call options.

Analysts Set New Price Targets

PEG has been the topic of a number of analyst reports. Scotiabank lifted 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 report on Tuesday, August 20th. Morgan Stanley boosted 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 report on Monday. Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.85.

Public Service Enterprise Group Trading Up 1.2 %

NYSE:PEG traded up $1.02 during mid-day trading on Monday, reaching $87.78. 725,985 shares of the company’s stock traded hands, compared to its average volume of 2,817,379. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $87.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company has a 50 day moving average price of $79.70 and a 200-day moving average price of $73.67. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.09 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock worth $2,406,965 in the last quarter. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in PEG. Family Firm Inc. purchased a new stake in Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $36,000. Salomon & Ludwin LLC raised its stake in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the period. Finally, PFS Partners LLC lifted its holdings in Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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.