Traders buy high volume of utility group call options (NYSE: PEG)


Public Service Enterprise Group Incorporated (NYSE: PEG) was the beneficiary of some unusual options trades on Tuesday. Stock traders acquired 4,642 call options on the stock. This is an increase of 941% over the average daily volume of 446 call options.

Several equity research analysts recently published reports on the company. Wells Fargo & Company raised its price target on Public Service Enterprise Group from $ 64.00 to $ 71.00 and gave the stock an “overweight” rating in a report on Wednesday April 14. They noted that the move was an appraisal call. KeyCorp raised its price target on Public Service Enterprise Group from $ 60.00 to $ 65.00 and rated the stock “overweight” in a report on Tuesday, April 20. Morgan Stanley raised its price target on Public Service Enterprise Group from $ 70.00 to $ 75.00 and gave the stock an “overweight” rating in a Monday April 26 report. Barclays raised its price target on Public Service Enterprise Group from $ 62.00 to $ 67.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Mizuho moved the group of public service companies from a hold rating to a buy rating and raised its share price target from $ 56.00 to $ 67.50 in a report Wednesday, May 5. An equity research analyst rated the stock with a sustaining rating and ten gave the company a buy rating. The stock currently has an average rating of “Buy” and a consensus price target of $ 66.55.

In other news from the Public Service Companies Group, COO Ralph A. Larossa sold 4,890 shares of the stock in a trade on Monday, May 3. The stock was sold for an average price of $ 63.87, for a total trade of $ 312,324.30. Insiders have sold a total of 10,574 shares of the company valued at $ 669,648 in the past 90 days. 0.52% of the shares are currently held by insiders of the company.

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Large investors have recently increased or reduced their stakes in the company. Adams Diversified Equity Fund Inc. increased its position in Public Service Enterprise Group by 8.0% in the first quarter. Adams Diversified Equity Fund Inc. now owns 233,900 shares of the utility company valued at $ 14,083,000 after purchasing an additional 17,300 shares during the period. Dimensional Fund Advisors LP increased its position in Public Service Enterprise Group by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,272,556 shares of the utility provider valued at $ 74,182,000 after purchasing an additional 16,334 shares during the period. Occidental Asset Management LLC increased its position in Public Service Enterprise Group by 32.5% in the first quarter. Occidental Asset Management LLC now owns 26,704 shares of the utility company valued at $ 1,608,000 after purchasing an additional 6,545 shares during the period. ExodusPoint Capital Management LP increased its position in Public Service Enterprise Group shares by 5.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 301,873 shares of the utility company valued at $ 17,599,000 after acquiring an additional 14,759 shares in the last quarter. Finally, Candriam Luxembourg SCA increased its position in Public Service Enterprise Group shares by 4.5% in the fourth quarter. Candriam Luxembourg SCA now owns 45,000 shares of the utility provider valued at $ 2,624,000 after acquiring an additional 1,951 shares during the last quarter. 66.84% of the stock is currently held by institutional investors.

Actions of ANKLE traded down $ 1.27 during Tuesday trading hours, reaching $ 62.19. The stock had a trading volume of 1,885,272 shares, compared to its average volume of 2,101,002. The company has a leverage ratio of 0.94, a quick ratio of 0.63, and a current ratio of 0.79. The company has a market cap of $ 31.44 billion, a P / E ratio of 14.95, a P / E / G ratio of 4.98 and a beta of 0.54. The company’s fifty-day simple moving average is $ 62.52 and its 200-day simple moving average is $ 59.04. Public Service Enterprise Group has a 12 month minimum of $ 46.70 and a 12 month maximum of $ 64.30.

Public Service Enterprise Group (NYSE: PEG) last released its results on Wednesday, May 5. The utility provider reported earnings per share of $ 1.28 for the quarter, beating the consensus estimate of $ 1.12 by $ 0.16. Public Service Enterprise Group recorded a return on equity of 11.77% and a net margin of 21.68%. The company posted revenue of $ 2.89 billion for the quarter, compared to analysts’ estimates of $ 3.25 billion. During the same period last year, the company posted EPS of $ 1.03. The company’s quarterly revenue increased 3.9% year over year. As a group, sell-side analysts predict that Public Service Enterprise Group will post earnings per share of 3.46 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30. Shareholders of record on Tuesday, June 8 will receive a dividend of $ 0.51. This represents an annualized dividend of $ 2.04 and a return of 3.28%. The ex-dividend date is Monday June 7. The Public Service Enterprise Group dividend payout ratio (DPR) is currently 59.48%.

Company Profile of the Public Service Enterprise Group

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

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