Chevy Chase Trust Holdings Inc. Trims Stake in PG&E Co. (PCG)

Chevy Chase Trust Holdings Inc. trimmed its stake in shares of PG&E Co. (NYSE:PCG) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,042 shares of the utilities provider’s stock after selling 9,837 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in PG&E were worth $19,602,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of PG&E by 6.6% during the second quarter. BlackRock Inc. now owns 47,850,122 shares of the utilities provider’s stock worth $2,036,500,000 after purchasing an additional 2,951,423 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of PG&E by 11.2% during the second quarter. Wells Fargo & Company MN now owns 5,260,065 shares of the utilities provider’s stock worth $223,868,000 after purchasing an additional 527,892 shares in the last quarter. Legal & General Group Plc lifted its position in shares of PG&E by 0.8% during the second quarter. Legal & General Group Plc now owns 4,799,269 shares of the utilities provider’s stock worth $204,254,000 after purchasing an additional 37,271 shares in the last quarter. Morgan Stanley lifted its position in shares of PG&E by 41.6% during the second quarter. Morgan Stanley now owns 3,438,543 shares of the utilities provider’s stock worth $146,342,000 after purchasing an additional 1,009,616 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its position in shares of PG&E by 182.5% during the second quarter. Levin Capital Strategies L.P. now owns 3,251,422 shares of the utilities provider’s stock worth $138,381,000 after purchasing an additional 2,100,406 shares in the last quarter. Institutional investors own 81.39% of the company’s stock.

In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total value of $52,001.19. Following the completion of the sale, the chief operating officer now owns 78,223 shares of the company’s stock, valued at $3,503,608.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.



Shares of NYSE:PCG opened at $46.29 on Friday. PG&E Co. has a 52 week low of $37.30 and a 52 week high of $58.38. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 3.56 and a beta of -0.07.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, July 26th. The utilities provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts anticipate that PG&E Co. will post 3.8 EPS for the current year.

A number of equities research analysts recently weighed in on PCG shares. Citigroup reissued a “hold” rating and set a $45.00 price target (down from $46.00) on shares of PG&E in a research note on Friday, July 6th. Bank of America boosted their price target on shares of PG&E from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, July 9th. Barclays started coverage on shares of PG&E in a research note on Tuesday, July 10th. They set an “equal weight” rating and a $53.00 price target for the company. Morgan Stanley boosted their price target on shares of PG&E from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Finally, Wells Fargo & Co boosted their price target on shares of PG&E from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $51.51.

PG&E 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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