Investors Purchase High Volume of Put Options on Public Service Enterprise Group (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) was the recipient of some unusual options trading on Monday. Stock investors purchased 8,216 put options on the stock. This is an increase of 300% compared to the average volume of 2,054 put options.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $4.63 during mid-day trading on Monday, hitting $82.68. The company had a trading volume of 1,857,159 shares, compared to its average volume of 2,776,027. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group has a 1 year low of $56.85 and a 1 year high of $92.20. The company has a market capitalization of $41.19 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 2.94 and a beta of 0.61. The stock’s 50-day moving average price is $86.48 and its 200-day moving average price is $78.75.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Old Port Advisors raised its holdings in shares of Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its position in Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the last quarter. Cigna Investments Inc. New lifted its position in Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 124 shares during the last quarter. Great Lakes Retirement Inc. increased its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after buying an additional 127 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays raised their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Bank of America upped their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $87.46.

About Public Service Enterprise Group

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.