Shell Asset Management Co. lessened its position in PG&E Co. (NYSE:PCG) by 81.2% in the 4th quarter, HoldingsChannel reports. The firm owned 108,395 shares of the utilities provider’s stock after selling 467,980 shares during the period. Shell Asset Management Co.’s holdings in PG&E were worth $4,859,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in PG&E by 5.4% in the third quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock valued at $2,859,000 after purchasing an additional 2,148 shares in the last quarter. Strs Ohio increased its stake in PG&E by 159.0% in the fourth quarter. Strs Ohio now owns 804,393 shares of the utilities provider’s stock valued at $36,060,000 after purchasing an additional 493,763 shares in the last quarter. Hollencrest Capital Management bought a new stake in PG&E in the fourth quarter valued at approximately $448,000. National Pension Service increased its stake in PG&E by 7.0% in the fourth quarter. National Pension Service now owns 471,089 shares of the utilities provider’s stock valued at $21,119,000 after purchasing an additional 30,836 shares in the last quarter. Finally, Maple Brown Abbott Ltd increased its stake in PG&E by 3.4% in the fourth quarter. Maple Brown Abbott Ltd now owns 1,153,480 shares of the utilities provider’s stock valued at $51,711,000 after purchasing an additional 37,463 shares in the last quarter. 82.17% of the stock is owned by hedge funds and other institutional investors.
PCG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of PG&E from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, November 6th. Wells Fargo & Co downgraded shares of PG&E from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Deutsche Bank reissued a “buy” rating and set a $61.00 price objective on shares of PG&E in a research report on Thursday, December 21st. ValuEngine downgraded shares of PG&E from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Guggenheim downgraded shares of PG&E from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. PG&E currently has an average rating of “Hold” and a consensus target price of $58.77.
PG&E Co. (NYSE PCG) opened at $40.40 on Tuesday. PG&E Co. has a 1-year low of $37.30 and a 1-year high of $71.57. The company has a market cap of $20,804.75, a price-to-earnings ratio of 11.01, a P/E/G ratio of 2.57 and a beta of 0.03. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.
PG&E (NYSE:PCG) last announced its earnings results on Friday, February 9th. The utilities provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.06). PG&E had a return on equity of 9.93% and a net margin of 9.69%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the company posted $1.33 EPS. analysts forecast that PG&E Co. will post 3.81 EPS for the current fiscal year.
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PG&E Company Profile
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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