Oregon Public Employees Retirement Fund Acquires 6,891,831 Shares of PG&E Co. (PCG)

Oregon Public Employees Retirement Fund boosted its position in PG&E Co. (NYSE:PCG) by 3,173.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,108,993 shares of the utilities provider’s stock after buying an additional 6,891,831 shares during the quarter. Oregon Public Employees Retirement Fund owned 1.37% of PG&E worth $299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PG&E by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 37,970,163 shares of the utilities provider’s stock worth $1,747,007,000 after buying an additional 639,656 shares in the last quarter. Vanguard Group Inc lifted its holdings in PG&E by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 37,970,163 shares of the utilities provider’s stock worth $1,747,007,000 after buying an additional 639,656 shares in the last quarter. Baupost Group LLC MA lifted its holdings in PG&E by 321.8% in the 3rd quarter. Baupost Group LLC MA now owns 18,979,790 shares of the utilities provider’s stock worth $873,260,000 after buying an additional 14,479,790 shares in the last quarter. FMR LLC lifted its holdings in PG&E by 57.1% in the 3rd quarter. FMR LLC now owns 12,270,405 shares of the utilities provider’s stock worth $564,561,000 after buying an additional 4,459,321 shares in the last quarter. Finally, Hound Partners LLC acquired a new position in PG&E in the 3rd quarter worth $307,087,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

A number of equities analysts have commented on PCG shares. JPMorgan Chase & Co. lowered shares of PG&E from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $39.00 to $22.00 in a report on Monday, January 14th. UBS Group boosted their price objective on shares of PG&E from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, January 7th. Barclays reiterated a “hold” rating and issued a $19.00 price objective on shares of PG&E in a report on Friday, January 11th. Morgan Stanley boosted their price objective on shares of PG&E from $13.00 to $17.50 and gave the stock an “equal weight” rating in a report on Friday, January 25th. They noted that the move was a valuation call. Finally, Citigroup downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. PG&E presently has a consensus rating of “Hold” and an average target price of $23.85.

PCG opened at $15.89 on Wednesday. The stock has a market capitalization of $7.43 billion, a PE ratio of 4.32, a P/E/G ratio of 1.26 and a beta of -0.46. PG&E Co. has a 1-year low of $5.07 and a 1-year high of $49.42. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 0.93.

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PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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