November 25, 2016 - By Darrin Black · 0 Comments
Public Service Enterprise Group Inc (NYSE:PEG) institutional sentiment decreased to 0.98 in 2016 Q2. Its down -0.09, from 1.07 in 2016Q1. The ratio turned negative, as 279 hedge funds started new and increased equity positions, while 260 sold and trimmed holdings in Public Service Enterprise Group Inc. The hedge funds in our partner’s database now possess: 326.15 million shares, down from 338.06 million shares in 2016Q1. Also, the number of hedge funds holding Public Service Enterprise Group Inc in their top 10 equity positions was flat from 7 to 7 for the same number . Sold All: 49 Reduced: 211 Increased: 218 New Position: 61.
Public Service Enterprise Group Incorporated is an energy holding firm with activities located in the Northeastern and Mid- Atlantic United States. The company has a market cap of $20.76 billion. The Firm is engaged in the transmission and distribution of electricity and natural gas. It has a 16.3 P/E ratio. The Company’s business consists of two divisions, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).
About 349,420 shares traded hands. Public Service Enterprise Group Inc. (NYSE:PEG) has declined 9.89% since April 22, 2016 and is downtrending. It has underperformed by 15.30% the S&P500.
Analysts await Public Service Enterprise Group Inc. (NYSE:PEG) to report earnings on February, 17. They expect $0.49 EPS, down 2.00% or $0.01 from last year’s $0.5 per share. PEG’s profit will be $244.82M for 21.20 P/E if the $0.49 EPS becomes a reality. After $0.88 actual EPS reported by Public Service Enterprise Group Inc. for the previous quarter, Wall Street now forecasts -44.32% negative EPS growth.
According to Zacks Investment Research, “Public Service Entertainment Group has been an active participant in the ongoing policy debate on how the energy industry can best contribute to achieving the nation’s environmental objectives. PSEG has advocated independently, and through a coalition of companies known as the Clean Energy Group, for the industry to make further reductions in air pollutants traditionally associated with the production of electricity and to begin mandatory carbon dioxide reductions. PSEG has been actively engaged in the climate change policy debate for more than a decade.”
Matterhorn Capital Management Llc holds 4.25% of its portfolio in Public Service Enterprise Group Inc. for 143,519 shares. Hamlin Capital Management Llc owns 1.48 million shares or 3.34% of their US portfolio. Moreover, Campbell & Co Investment Adviser Llc has 2.77% invested in the company for 11,767 shares. The Ireland-based Davy Asset Management Ltd has invested 2.54% in the stock. Kempen Capital Management N.V., a Netherlands-based fund reported 423,876 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 7 insider sales for $8.59 million net activity.
Ratings analysis reveals 25% of Public Service Enterprise Group Incorporated’s analysts are positive. Out of 12 Wall Street analysts rating Public Service Enterprise Group Incorporated, 3 give it “Buy”, 2 “Sell” rating, while 7 recommend “Hold”. The lowest target is $37 while the high is $50. The stock’s average target of $44.50 is 7.10% above today’s ($41.55) share price. PEG was included in 18 notes of analysts from September 11, 2015. The rating was initiated by Citigroup with “Neutral” on Friday, September 18. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, March 14 report. The firm earned “Neutral” rating on Friday, September 11 by JP Morgan. Bank of America downgraded the shares of PEG in a report on Tuesday, June 7 to “Underperform” rating. The stock of Public Service Enterprise Group Inc. (NYSE:PEG) earned “Buy” rating by Argus Research on Thursday, February 25. The stock of Public Service Enterprise Group Inc. (NYSE:PEG) has “Underperform” rating given on Tuesday, October 20 by Wolfe Research. The rating was maintained by Argus Research on Monday, January 11 with “Buy”. Morgan Stanley upgraded Public Service Enterprise Group Inc. (NYSE:PEG) on Wednesday, July 13 to “Equal-Weight” rating. The firm has “Buy” rating given on Wednesday, March 16 by UBS. The rating was upgraded by Goldman Sachs to “Buy” on Monday, October 17.
Public Service Enterprise Group Incorporated (PSEG), incorporated on July 25, 1985, is an energy holding firm with activities located in the Northeastern and Mid- Atlantic United States. The Firm is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two divisions: Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power). The Company’s other direct 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 (T&D) system and PSEG Services Corporation (Services), which provides certain management, administrative and general services.
More news for Public Service Enterprise Group Inc. (NYSE:PEG) were recently published by: Forbes.com, which released: “January 2017 Options Now Available For Public Service Enterprise Group (PEG)” on November 21, 2016. Nasdaq.com‘s article titled: “Public Service Enterprise Group Inc Bottom Line Climbs 10% In Q3” and published on October 31, 2016 is yet another important article.
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By Darrin Black