Salem Investment Counselors Inc adds TECO Energy (TE) to its portfolio

TECO Energy (TE) : Salem Investment Counselors Inc added new position in TECO Energy during the most recent quarter end. The investment management firm now holds 633,152 shares of TECO Energy which is valued at $17.4 Million , the company said in a statement filed on May 13, 2016 with the SEC.TECO Energy makes up approximately 2.18% of Salem Investment Counselors Inc’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale added TE to its portfolio by purchasing 9,400 company shares during the most recent quarter which is valued at $258,688.Blackrock Group Ltd boosted its stake in TE in the latest quarter, The investment management firm added 731,522 additional shares and now holds a total of 2,051,377 shares of TECO Energy which is valued at $56.5 Million. TECO Energy makes up approx 0.03% of Blackrock Group Ltd’s portfolio.

TECO Energy closed down -0.02 points or -0.07% at $27.52 with 14,19,317 shares getting traded on Wednesday. Post opening the session at $27.53, the shares hit an intraday low of $27.5 and an intraday high of $27.54 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, TECO Energy reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.27. The company had revenue of $659.50 million for the quarter, compared to analysts expectations of $627.63 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

TECO Energy Inc. (TECO Energy) is a holding company for regulated utilities and other businesses. TECO Energy owns no operating assets but holds all of the common stock of TEC and its subsidiary TECO Diversified. Tampa Electric Company the principal subsidiary of TECO Energy Inc. has two business segments. Its Tampa Electric division provides retail electric service to more than 706000 customers in West Central Florida with a net winter system generating capacity of 4668 Megawatts. Peoples Gas System the gas division of Tampa Electric Company is engaged in the purchase distribution and sale of natural gas for approximately 513000 residential commercial industrial customers in the State of New Mexico. New Mexico Gas Company Inc. a wholly owned subsidiary of New Mexico Gas Intermediate Inc. is engaged in the purchase distribution and sale of natural gas for residential commercial and industrial customers in New Mexico.

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