Gulf International Bank UK Ltd reduced its position in PG&E Co. (NYSE:PCG) by 29.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,194 shares of the utilities provider’s stock after selling 51,382 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PG&E were worth $2,878,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PCG. Cadence Capital Management LLC purchased a new stake in PG&E in the third quarter valued at approximately $272,000. BlueMountain Capital Management LLC raised its stake in PG&E by 2,496.7% in the third quarter. BlueMountain Capital Management LLC now owns 4,307,967 shares of the utilities provider’s stock valued at $198,210,000 after purchasing an additional 4,142,068 shares in the last quarter. Silver Point Capital L.P. purchased a new stake in PG&E in the third quarter valued at approximately $60,043,000. Morgan Stanley raised its stake in PG&E by 41.6% in the second quarter. Morgan Stanley now owns 3,438,543 shares of the utilities provider’s stock valued at $146,342,000 after purchasing an additional 1,009,616 shares in the last quarter. Finally, Baupost Group LLC MA raised its stake in PG&E by 321.8% in the third quarter. Baupost Group LLC MA now owns 18,979,790 shares of the utilities provider’s stock valued at $873,260,000 after purchasing an additional 14,479,790 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.
PCG stock opened at $17.59 on Friday. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.01. PG&E Co. has a one year low of $15.78 and a one year high of $49.42. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 0.93.
PG&E (NYSE:PCG) last posted its quarterly earnings results on Monday, November 5th. The utilities provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.01). PG&E had a return on equity of 10.17% and a net margin of 0.89%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the business posted $1.12 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. On average, analysts anticipate that PG&E Co. will post 3.82 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of PG&E from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. Mizuho lowered their target price on shares of PG&E from $27.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 8th. Bank of America lowered their target price on shares of PG&E from $44.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup set a $48.00 target price on shares of PG&E and gave the company a “hold” rating in a research note on Monday, October 8th. Finally, Barclays reissued a “hold” rating and set a $19.00 price target on shares of PG&E in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $35.62.
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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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