Public Service Enterprise Group Incorporated (PEG) has been under a strong bear grip, hence the stock is down -0.99% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.97% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.59% in the last 1 week, and is up 5.69% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Public Service Enterprise Group Incorporated (NYSE:PEG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.84 and $45.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.60, notching a gain of 1.37% for the day. The total traded volume was 2,205,802 . The stock had closed at $45.97 on the previous day.
The stock has recorded a 20-day Moving Average of 2.09% and the 50-Day Moving Average is 3.57%. Public Service Enterprise Group Inc. is up 4.02% in the last 3-month period. Year-to-Date the stock performance stands at 22.67%.
Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned subsidiaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G). The Companys other direct wholly owned subsidiaries are PSEG Energy Holdings L.L.C., which owns and manages a portfolio of lease investments; PSEG Long Island LLC, which operates the Long Island Power Authoritys (LIPA) transmission and distribution system under a contractual agreement, and PSEG Services Corporation, which provides certain management, administrative and general services to PSEG and its subsidiaries.