Destination Wealth Management buys $11,228,939 stake in PG&E Corporation (PCG)

PG&E Corporation (PCG) : Destination Wealth Management scooped up 6,292 additional shares in PG&E Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 193,103 shares of PG&E Corporation which is valued at $11,228,939.PG&E Corporation makes up approximately 0.88% of Destination Wealth Management’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp reduced its stake in PCG by selling 17,328 shares or 44.68% in the most recent quarter. The Hedge Fund company now holds 21,453 shares of PCG which is valued at $1,310,564. PG&E Corporation makes up approx 0.06% of Stevens Capital Management Lp’s portfolio.Rhumbline Advisers boosted its stake in PCG in the latest quarter, The investment management firm added 40,193 additional shares and now holds a total of 760,098 shares of PG&E Corporation which is valued at $46,434,387. PG&E Corporation makes up approx 0.13% of Rhumbline Advisers’s portfolio.Commerce Bank reduced its stake in PCG by selling 36 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 8,650 shares of PCG which is valued at $520,730. PG&E Corporation makes up approx 0.01% of Commerce Bank’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in PCG by selling 3,139 shares or 3.07% in the most recent quarter. The Hedge Fund company now holds 99,054 shares of PCG which is valued at $5,968,994. PG&E Corporation makes up approx 0.05% of Public Employees Retirement Association Of Colorado’s portfolio.

PG&E Corporation closed down -0.29 points or -0.49% at $58.38 with 19,16,479 shares getting traded on Monday. Post opening the session at $58.65, the shares hit an intraday low of $58.135 and an intraday high of $58.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PG&E Corporation reported $0.94 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Nov 4, 2016. Analyst had a consensus of $1.09. The company had revenue of $4810.00 million for the quarter, compared to analysts expectations of $4943.60 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility). The Utility’s operations include electric utility operations and natural gas utility operations. It operates in northern and central California. 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. The Utility provides natural gas transportation services to customers which include small commercial and residential customers and to non-core customers which include industrial commercial and natural gas-fired electric generation facilities that are connected to the Utility’s gas system in its service territory.

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