Public Service Enterprise Group (PEG) : Patton Albertson Miller Group reduced its stake in Public Service Enterprise Group by 7.0% during the most recent quarter end. The investment management company now holds a total of 65,726 shares of Public Service Enterprise Group which is valued at $3,021,424 after selling 4,947 shares in Public Service Enterprise Group , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Public Service Enterprise Group makes up approximately 1.32% of Patton Albertson Miller Group’s portfolio.
Other Hedge Funds, Including , Next Financial Group Inc boosted its stake in PEG in the latest quarter, The investment management firm added 105 additional shares and now holds a total of 3,676 shares of Public Service Enterprise Group which is valued at $169,611. Public Service Enterprise Group makes up approx 0.05% of Next Financial Group Inc’s portfolio.First Premier Bank reduced its stake in PEG by selling 1,198 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 80,796 shares of PEG which is valued at $3,727,927. Public Service Enterprise Group makes up approx 2.82% of First Premier Bank’s portfolio.
Public Service Enterprise Group opened for trading at $45.77 and hit $46.08 on the upside on Friday, eventually ending the session at $45.87, with a gain of 0.33% or 0.15 points. The heightened volatility saw the trading volume jump to 21,12,723 shares. Company has a market cap of $23,207 M.
On the company’s financial health, Public Service Enterprise Group reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.88.Analysts expectations of $ 2692.87.During the same quarter in the previous year, the company posted $1.04 EPS.
Many Wall Street Analysts have commented on Public Service Enterprise Group. Public Service Enterprise Group was Upgraded by Morgan Stanley to ” Equal-Weight” on Jul 13, 2016. Public Service Enterprise Group was Downgraded by BofA/Merrill to ” Underperform” on Jun 7, 2016.
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 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.