Farmers Trust Co buys $4,582,150 stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : Farmers Trust Co scooped up 14,589 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 Oct 17, 2016. The investment management firm now holds a total of 112,033 shares of Public Service Enterprise Group which is valued at $4,582,150.Public Service Enterprise Group makes up approximately 1.60% of Farmers Trust Co’s portfolio.

Other Hedge Funds, Including , Cwm added PEG to its portfolio by purchasing 1,500 company shares during the most recent quarter which is valued at $61,350.Dalton Greiner Hartman Maher Co reduced its stake in PEG by selling 63,613 shares or 19.16% in the most recent quarter. The Hedge Fund company now holds 268,394 shares of PEG which is valued at $10,996,102. Public Service Enterprise Group makes up approx 0.73% of Dalton Greiner Hartman Maher Co’s portfolio.Highland Capital Management reduced its stake in PEG by selling 115 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 106,533 shares of PEG which is valued at $4,364,657. Public Service Enterprise Group makes up approx 0.37% of Highland Capital Management’s portfolio. Pensionfund Dsm Netherlands added PEG to its portfolio by purchasing 92,000 company shares during the most recent quarter which is valued at $3,734,280. Public Service Enterprise Group makes up approx 0.52% of Pensionfund Dsm Netherlands’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.

Public Service Enterprise Group closed down -0.07 points or -0.17% at $40.9 with 32,68,522 shares getting traded on Friday. Post opening the session at $40.91, the shares hit an intraday low of $40.77 and an intraday high of $41.42 and the price fluctuated in this range throughout the day.Shares ended Friday 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 Goldman to ” Buy” on Oct 17, 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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