Stock Traders Purchase High Volume of Public Service Enterprise Group Call Options (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the target of some unusual options trading activity on Friday. Investors purchased 38,835 call options on the company. This is an increase of 3,002% compared to the average volume of 1,252 call options.

Public Service Enterprise Group Stock Down 1.1 %

NYSE:PEG traded down $0.85 during trading hours on Friday, hitting $80.05. 905,955 shares of the company traded hands, compared to its average volume of 2,799,903. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a market cap of $39.88 billion, a PE ratio of 22.41, a PEG ratio of 2.94 and a beta of 0.60. The firm’s 50-day simple moving average is $77.85 and its 200-day simple moving average is $71.87. Public Service Enterprise Group has a one year low of $53.71 and a one year high of $81.89.

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 return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.00%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s 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 completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $215,074,000. Charles Schwab Investment Management Inc. grew its position in shares of Public Service Enterprise Group by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,826,477 shares of the utilities provider’s stock valued at $172,839,000 after purchasing an additional 30,469 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Public Service Enterprise Group by 43.2% during the 2nd 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 during the period. Cohen & Steers Inc. lifted its holdings in Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after purchasing an additional 455,693 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Public Service Enterprise Group by 12.5% in the 4th quarter. Franklin Resources Inc. now owns 2,331,709 shares of the utilities provider’s stock worth $142,584,000 after purchasing an additional 259,694 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. Mizuho raised their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. BMO Capital Markets lifted their price objective 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. Barclays increased their target price 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. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Bank of America increased their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

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.