The first determination of improved orbital elements of this star--planet system based on a combination of all available radial velocities of 51 Peg is derived. A period analysis of the O--C deviations of the times of RV maxima from the new linear ephemeris shows a periodicity of 250-d with a large amplitude of 0063° 0.005°.
If interpreted as a light--time effect due to a third body in the system, this would imply an unrealistically large mass. Hence, one should seek other explanations like forced non--radial pulsations.
However, it would be necessary to confirm or disprove the reality of the 250-d period via new dedicated observations.