PG&E Co. (PCG) Shares Sold by Zebra Capital Management LLC
Zebra Capital Management LLC reduced its stake in shares of PG&E Co. (NYSE:PCG) by 28.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,489 shares of the utilities provider’s stock after selling 6,501 shares during the period. Zebra Capital Management LLC’s holdings in PG&E were worth $702,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of PG&E by 2.4% during the 2nd quarter. CIBC Asset Management Inc now owns 52,905 shares of the utilities provider’s stock worth $2,252,000 after acquiring an additional 1,242 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of PG&E by 28.8% during the 1st quarter. M&R Capital Management Inc. now owns 5,596 shares of the utilities provider’s stock worth $245,000 after acquiring an additional 1,250 shares during the last quarter. State Treasurer State of Michigan lifted its holdings in shares of PG&E by 0.9% during the 2nd quarter. State Treasurer State of Michigan now owns 152,929 shares of the utilities provider’s stock worth $6,509,000 after acquiring an additional 1,300 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of PG&E by 1.8% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 80,881 shares of the utilities provider’s stock worth $3,553,000 after acquiring an additional 1,400 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of PG&E by 10.3% during the 1st quarter. IFM Investors Pty Ltd now owns 16,041 shares of the utilities provider’s stock worth $705,000 after acquiring an additional 1,501 shares during the last quarter. 81.43% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Goldman Sachs Group set a $49.00 price objective on shares of PG&E and gave the stock a “hold” rating in a report on Friday. Bank of America lifted their target price on shares of PG&E from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, July 9th. Citigroup reiterated a “hold” rating and issued a $45.00 target price (down previously from $46.00) on shares of PG&E in a research report on Friday, July 6th. Morgan Stanley upgraded shares of PG&E to an “overweight” rating in a research report on Wednesday, September 12th. Finally, Evercore ISI upgraded shares of PG&E from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $52.00 in a research report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.69.
PCG stock opened at $46.93 on Monday. PG&E Co. has a 12-month low of $37.30 and a 12-month high of $70.38. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.91 and a beta of -0.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.60 and a current ratio of 0.65.
PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.22. PG&E had a net margin of 0.80% and a return on equity of 10.20%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. equities analysts predict that PG&E Co. will post 3.79 EPS for the current year.
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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