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


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Public Service Enterprise Group Incorporated (NYSE:PEG) saw some unusual options trading activity on Tuesday. Investors purchased 3,594 call options on the stock. This is an increase of 620% compared to the typical volume of 499 call options.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Public Service Enterprise Group by 2.8% in the 4th quarter. BlackRock Inc. now owns 51,015,043 shares of the utilities provider’s stock worth $2,974,179,000 after buying an additional 1,367,836 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Public Service Enterprise Group by 188.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,136,648 shares of the utilities provider’s stock valued at $1,523,767,000 after purchasing an additional 17,069,173 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Public Service Enterprise Group by 46.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,437,664 shares of the utilities provider’s stock valued at $517,186,000 after purchasing an additional 2,999,951 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Public Service Enterprise Group by 10.8% in the 4th quarter. Nordea Investment Management AB now owns 7,349,367 shares of the utilities provider’s stock valued at $428,468,000 after purchasing an additional 717,747 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Public Service Enterprise Group by 0.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,076,978 shares of the utilities provider’s stock valued at $278,777,000 after purchasing an additional 36,206 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

PEG stock traded up $0.73 during trading on Tuesday, reaching $57.82. The stock had a trading volume of 56,629 shares, compared to its average volume of 2,110,796. Public Service Enterprise Group has a 1-year low of $34.75 and a 1-year high of $62.15. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $29.25 billion, a P/E ratio of 15.14, a PEG ratio of 6.10 and a beta of 0.49. The firm has a fifty day moving average price of $57.96 and a 200 day moving average price of $56.79.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 9th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, March 8th. This represents a $2.04 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.49. Public Service Enterprise Group’s payout ratio is currently 59.76%.

A number of brokerages recently weighed in on PEG. The Goldman Sachs Group raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Thursday, January 14th. Mizuho decreased their price target on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday, January 8th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 20th. KeyCorp decreased their price target on shares of Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, January 12th. Finally, Barclays upped their price target on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $63.92.

Public Service Enterprise Group Company Profile

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 PSEG 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.

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