PG&E Co. (PCG) Shares Sold by Bank of New York Mellon Corp

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Bank of New York Mellon Corp trimmed its position in PG&E Co. (NYSE:PCG) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,220,639 shares of the utilities provider’s stock after selling 19,372 shares during the quarter. Bank of New York Mellon Corp’s holdings in PG&E were worth $137,072,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its position in PG&E by 13.3% during the first quarter. Daiwa Securities Group Inc. now owns 17,206 shares of the utilities provider’s stock worth $756,000 after acquiring an additional 2,018 shares during the last quarter. American Assets Investment Management LLC boosted its holdings in shares of PG&E by 8.1% during the 1st quarter. American Assets Investment Management LLC now owns 97,300 shares of the utilities provider’s stock worth $4,274,000 after purchasing an additional 7,300 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of PG&E by 35.2% during the 1st quarter. Wedge Capital Management L L P NC now owns 209,646 shares of the utilities provider’s stock worth $9,210,000 after purchasing an additional 54,534 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of PG&E by 6.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,652,156 shares of the utilities provider’s stock worth $72,579,000 after purchasing an additional 100,011 shares during the last quarter. Finally, Greenleaf Trust boosted its holdings in shares of PG&E by 6,803.1% during the 1st quarter. Greenleaf Trust now owns 11,252 shares of the utilities provider’s stock worth $494,000 after purchasing an additional 11,089 shares during the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.

PCG stock opened at $44.70 on Wednesday. The company has a market cap of $23.40 billion, a PE ratio of 12.14, a PEG ratio of 2.87 and a beta of -0.01. 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 Co. has a one year low of $37.30 and a one year high of $71.57.

PG&E (NYSE:PCG) last released its quarterly 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 for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. analysts forecast that PG&E Co. will post 3.79 earnings per share for the current year.

A number of equities analysts recently commented on PCG shares. Citigroup set a $46.00 price objective on PG&E and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Bank of America lifted their price objective on PG&E from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, July 9th. Wells Fargo & Co lifted their price objective on PG&E from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. Morgan Stanley reiterated a “buy” rating on shares of PG&E in a report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on PG&E from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. PG&E currently has an average rating of “Hold” and a consensus price target of $52.54.

About PG&E

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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