Castleton Investment Management buys $11,485,624 stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : Castleton Investment Management scooped up 33,969 additional shares in Public Service Enterprise Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 261,215 shares of Public Service Enterprise Group which is valued at $11,485,624.Public Service Enterprise Group makes up approximately 5.65% of Castleton Investment Management’s portfolio.

Other Hedge Funds, Including , Springbok Capital Management reduced its stake in PEG by selling 6,388 shares or 56.71% in the most recent quarter. The Hedge Fund company now holds 4,877 shares of PEG which is valued at $214,442. Public Service Enterprise Group makes up approx 0.04% of Springbok Capital Management’s portfolio.Nelson Roberts Investment Advisors boosted its stake in PEG in the latest quarter, The investment management firm added 470 additional shares and now holds a total of 670 shares of Public Service Enterprise Group which is valued at $29,460. Public Service Enterprise Group makes up approx 0.01% of Nelson Roberts Investment Advisors’s portfolio.Ifc Holdings Incorporatedfl reduced its stake in PEG by selling 317 shares or 1.8% in the most recent quarter. The Hedge Fund company now holds 17,292 shares of PEG which is valued at $774,855. Public Service Enterprise Group makes up approx 0.09% of Ifc Holdings Incorporatedfl’s portfolio.Nordea Investment Management Ab reduced its stake in PEG by selling 1,912,259 shares or 26.1% in the most recent quarter. The Hedge Fund company now holds 5,413,994 shares of PEG which is valued at $245,849,468. Public Service Enterprise Group makes up approx 0.70% of Nordea Investment Management Ab’s portfolio.Highland Capital Management reduced its stake in PEG by selling 75 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 106,648 shares of PEG which is valued at $4,842,886. Public Service Enterprise Group makes up approx 0.40% of Highland Capital Management’s portfolio.

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.

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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