PG&E Co. (PCG) Shares Sold by Mackay Shields LLC

Mackay Shields LLC trimmed its stake in PG&E Co. (NYSE:PCG) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,835 shares of the utilities provider’s stock after selling 35,758 shares during the period. Mackay Shields LLC’s holdings in PG&E were worth $5,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCG. Baupost Group LLC MA grew its position 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 purchasing an additional 14,479,790 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in PG&E by 3,173.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,108,993 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 6,891,831 shares during the last quarter. Hound Partners LLC acquired a new stake in PG&E in the 3rd quarter worth $307,087,000. FMR LLC grew its position 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 purchasing an additional 4,459,321 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its position in PG&E by 2,496.7% in the 3rd quarter. BlueMountain Capital Management LLC now owns 4,307,967 shares of the utilities provider’s stock worth $198,210,000 after purchasing an additional 4,142,068 shares during the last quarter. Institutional investors own 82.74% of the company’s stock.

Several analysts have recently weighed in on the stock. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered shares of PG&E from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Citigroup lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Wells Fargo & Co reiterated a “buy” rating on shares of PG&E in a research report on Monday, December 24th. Finally, Macquarie lowered shares of PG&E from an “outperform” rating to a “neutral” rating in a research report on Monday, January 14th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.12.

Shares of NYSE PCG opened at $19.07 on Wednesday. PG&E Co. has a 1-year low of $5.07 and a 1-year high of $49.42. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 4.77, a P/E/G ratio of 1.76 and a beta of -0.38.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. PG&E had a negative net margin of 40.80% and a positive return on equity of 11.61%. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, sell-side analysts anticipate that PG&E Co. will post 3.9 EPS for the current year.

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PG&E Profile

PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. The company was founded in 1995 and is headquartered in San Francisco, CA.

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

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