Sei Investments Co. cut its position in shares of PG&E Co. (NYSE:PCG) by 43.3% in the fourth quarter, HoldingsChannel reports. The firm owned 383,452 shares of the utilities provider’s stock after selling 292,628 shares during the period. Sei Investments Co.’s holdings in PG&E were worth $17,190,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its stake in shares of PG&E by 5.4% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock worth $2,859,000 after purchasing an additional 2,148 shares in the last quarter. Strs Ohio raised its stake in shares of PG&E by 159.0% during the 4th quarter. Strs Ohio now owns 804,393 shares of the utilities provider’s stock worth $36,060,000 after purchasing an additional 493,763 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of PG&E during the 4th quarter worth about $448,000. National Pension Service raised its stake in shares of PG&E by 7.0% during the 4th quarter. National Pension Service now owns 471,089 shares of the utilities provider’s stock worth $21,119,000 after purchasing an additional 30,836 shares in the last quarter. Finally, Maple Brown Abbott Ltd raised its stake in shares of PG&E by 3.4% during the 4th quarter. Maple Brown Abbott Ltd now owns 1,153,480 shares of the utilities provider’s stock worth $51,711,000 after purchasing an additional 37,463 shares in the last quarter. 82.17% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on PCG shares. Bank of America started coverage on PG&E in a research note on Tuesday, October 24th. They set a “neutral” rating and a $59.00 price target for the company. Zacks Investment Research raised PG&E from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, November 6th. Mizuho downgraded PG&E from a “buy” rating to a “neutral” rating and raised their price target for the stock from $54.24 to $55.00 in a research note on Friday, December 1st. Citigroup reissued a “neutral” rating on shares of PG&E in a report on Monday, December 18th. Finally, Wells Fargo & Co lowered PG&E from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. PG&E presently has an average rating of “Hold” and a consensus target price of $58.77.
PG&E (NYSE:PCG) last released its earnings results on Friday, February 9th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.06). The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.83 billion. PG&E had a net margin of 9.69% and a return on equity of 9.93%. During the same period last year, the business earned $1.33 EPS. analysts expect that PG&E Co. will post 3.81 earnings per share for the current year.
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PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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