Community Bank N.a. buys $4,003,617 stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : Community Bank N.a. scooped up 494 additional shares in Public Service Enterprise Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 88,556 shares of Public Service Enterprise Group which is valued at $4,003,617.Public Service Enterprise Group makes up approximately 0.95% of Community Bank N.a.’s portfolio.

Public Service Enterprise Group opened for trading at $45.11 and hit $45.4099 on the upside on Friday, eventually ending the session at $45.21, with a gain of 0.71% or 0.32 points. The heightened volatility saw the trading volume jump to 22,79,982 shares. Company has a market cap of $22,896 M.

Other Hedge Funds, Including , Lebenthal Holdingsllc added PEG to its portfolio by purchasing 4,681 company shares during the most recent quarter which is valued at $211,628. Public Service Enterprise Group makes up approx 0.04% of Lebenthal Holdingsllc’s portfolio. 1st Global Advisors added PEG to its portfolio by purchasing 4,859 company shares during the most recent quarter which is valued at $225,458. Public Service Enterprise Group makes up approx 0.03% of 1st Global Advisors’s portfolio.Hexavest reduced its stake in PEG by selling 5,783 shares or 1.39% in the most recent quarter. The Hedge Fund company now holds 409,879 shares of PEG which is valued at $19,018,386. Public Service Enterprise Group makes up approx 0.29% of Hexavest’s portfolio.

On the company’s financial health, Public Service Enterprise Group reported $0.50 EPS for the quarter, based on the information available during the earnings call on Feb 19, 2016. Analyst had a consensus estimate of $0.50.Analysts expectations of $ 2503.50.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Public Service Enterprise Group. Company shares were Reiterated by Barclays on Mar 14, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Company shares were Reiterated by Argus on Feb 25, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $43 .

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 Company’s 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 Authority’s (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.

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