Public Service Enterprise Group (PEG) : Hamel Associates has sold out all of its stake in Public Service Enterprise Group during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 12,725 shares of Public Service Enterprise Group which is valued at $558,882.
Other Hedge Funds, Including , Agf Investments added PEG to its portfolio by purchasing 169 company shares during the most recent quarter which is valued at $7,573.California State Teachers Retirement System reduced its stake in PEG by selling 2,265 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 1,102,841 shares of PEG which is valued at $49,418,305. Public Service Enterprise Group makes up approx 0.10% of California State Teachers Retirement System’s portfolio.Wedge Capital Management L L Pnc boosted its stake in PEG in the latest quarter, The investment management firm added 132,208 additional shares and now holds a total of 444,080 shares of Public Service Enterprise Group which is valued at $20,432,121. Public Service Enterprise Group makes up approx 0.22% of Wedge Capital Management L L Pnc’s portfolio.Capital City Trust Cofl boosted its stake in PEG in the latest quarter, The investment management firm added 2,087 additional shares and now holds a total of 54,330 shares of Public Service Enterprise Group which is valued at $2,531,778. Public Service Enterprise Group makes up approx 1.00% of Capital City Trust Cofl’s portfolio.
Public Service Enterprise Group closed down -0.55 points or -1.25% at $43.42 with 23,46,987 shares getting traded on Monday. Post opening the session at $43.9, the shares hit an intraday low of $43.41 and an intraday high of $44.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Public Service Enterprise Group reported $0.57 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.58.Analysts expectations of $ 2347.30.During the same quarter in the previous year, the company posted $0.57 EPS.
Investors should note that on Jul 19, 2016, Public Service Enterprise Group announced a cash dividend of $0.4100. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.
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.