Todd Asset Management Lowers stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : Todd Asset Management reduced its stake in Public Service Enterprise Group by 7.29% during the most recent quarter end. The investment management company now holds a total of 420,433 shares of Public Service Enterprise Group which is valued at $18,839,603 after selling 33,063 shares in Public Service Enterprise Group , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Public Service Enterprise Group makes up approximately 0.58% of Todd Asset Management’s portfolio.

Other Hedge Funds, Including , Btc Capital Management boosted its stake in PEG in the latest quarter, The investment management firm added 1,715 additional shares and now holds a total of 67,256 shares of Public Service Enterprise Group which is valued at $3,013,741. Public Service Enterprise Group makes up approx 0.64% of Btc Capital Management’s portfolio.Ls Investment Advisors boosted its stake in PEG in the latest quarter, The investment management firm added 21,055 additional shares and now holds a total of 50,670 shares of Public Service Enterprise Group which is valued at $2,361,222. Public Service Enterprise Group makes up approx 0.16% of Ls Investment Advisors’s portfolio.Capital One National Association boosted its stake in PEG in the latest quarter, The investment management firm added 2,642 additional shares and now holds a total of 46,695 shares of Public Service Enterprise Group which is valued at $2,120,420. Public Service Enterprise Group makes up approx 0.17% of Capital One National Association’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in PEG in the latest quarter, The investment management firm added 7,655 additional shares and now holds a total of 130,960 shares of Public Service Enterprise Group which is valued at $6,042,494. Public Service Enterprise Group makes up approx 0.13% of Exxonmobil Investment Management Inc Tx’s portfolio.

Public Service Enterprise Group closed down -0.2 points or -0.45% at $44.61 with 17,93,198 shares getting traded on Thursday. Post opening the session at $44.78, the shares hit an intraday low of $44.44 and an intraday high of $45.04 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 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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