Aqr Capital Management Lowers stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : Aqr Capital Management reduced its stake in Public Service Enterprise Group by 1.08% during the most recent quarter end. The investment management company now holds a total of 10,105,549 shares of Public Service Enterprise Group which is valued at $444,340,990 after selling 110,051 shares in Public Service Enterprise Group , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Public Service Enterprise Group makes up approximately 0.76% of Aqr Capital Management’s portfolio.

Other Hedge Funds, Including , Canada Pension Plan Investment Board reduced its stake in PEG by selling 204,466 shares or 50.05% in the most recent quarter. The Hedge Fund company now holds 204,037 shares of PEG which is valued at $8,971,507. Public Service Enterprise Group makes up approx 0.03% of Canada Pension Plan Investment Board’s portfolio.Massmutual Trust Co Fsbadv reduced its stake in PEG by selling 101 shares or 96.19% in the most recent quarter. The Hedge Fund company now holds 4 shares of PEG which is valued at $176.

Public Service Enterprise Group closed down -0.17 points or -0.40% at $42.59 with 40,42,553 shares getting traded on Thursday. Post opening the session at $42.74, the shares hit an intraday low of $42.45 and an intraday high of $42.8 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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