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

Public Service Enterprise Group (PEG) : Terra Nova Asset Management reduced its stake in Public Service Enterprise Group by 36.32% during the most recent quarter end. The investment management company now holds a total of 15,637 shares of Public Service Enterprise Group which is valued at $634,706 after selling 8,920 shares in Public Service Enterprise Group , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Public Service Enterprise Group makes up approximately 1.41% of Terra Nova Asset Management’s portfolio.

Other Hedge Funds, Including , Pensionfund Sabic added PEG to its portfolio by purchasing 42,000 company shares during the most recent quarter which is valued at $1,704,780. Public Service Enterprise Group makes up approx 0.53% of Pensionfund Sabic’s portfolio.Raymond James Trust N.a. reduced its stake in PEG by selling 2,075 shares or 3.72% in the most recent quarter. The Hedge Fund company now holds 53,752 shares of PEG which is valued at $2,196,307. Public Service Enterprise Group makes up approx 0.19% of Raymond James Trust N.a.’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in PEG in the latest quarter, The investment management firm added 4,270 additional shares and now holds a total of 52,599 shares of Public Service Enterprise Group which is valued at $2,144,461. Public Service Enterprise Group makes up approx 1.20% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.

Public Service Enterprise Group closed down -0.27 points or -0.66% at $40.59 with 24,90,118 shares getting traded on Tuesday. Post opening the session at $40.78, the shares hit an intraday low of $40.45 and an intraday high of $40.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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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