Hatteras Funds adds PG&E Corporation (PCG) to its portfolio

PG&E Corporation (PCG) : Hatteras Funds added new position in PG&E Corporation during the most recent quarter end. The investment management firm now holds 17,417 shares of PG&E Corporation which is valued at $1,116,778 , the company said in a statement filed on Aug 15, 2016 with the SEC.PG&E Corporation makes up approximately 2.90% of Hatteras Funds’s portfolio.

Other Hedge Funds, Including , Highbridge Capital Management added PCG to its portfolio by purchasing 197,389 company shares during the most recent quarter which is valued at $12,656,583. PG&E Corporation makes up approx 0.34% of Highbridge Capital Management’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in PCG by selling 18,635 shares or 16.19% in the most recent quarter. The Hedge Fund company now holds 96,489 shares of PCG which is valued at $6,183,015. PG&E Corporation makes up approx 0.05% of Los Angeles Capital Management Equity Research Inc’s portfolio. Herndon Capital Management added PCG to its portfolio by purchasing 46 company shares during the most recent quarter which is valued at $2,941.Cwm boosted its stake in PCG in the latest quarter, The investment management firm added 1,250 additional shares and now holds a total of 1,391 shares of PG&E Corporation which is valued at $90,443. PG&E Corporation makes up approx 0.01% of Cwm’s portfolio.

PG&E Corporation closed down -0.13 points or -0.21% at $61.81 with 21,12,229 shares getting traded on Thursday. Post opening the session at $61.93, the shares hit an intraday low of $61.62 and an intraday high of $62.21 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, PG&E Corporation reported $0.66 EPS for the quarter, missing the analyst consensus estimate by $ -0.26 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.92. The company had revenue of $4169.00 million for the quarter, compared to analysts expectations of $4331.47 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on PG&E Corporation. Company shares were Upgraded by RBC Capital Mkts on Jul 15, 2016 to ” Outperform”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .Company shares were Reiterated by Mizuho on Jun 29, 2016 to “Buy”, Firm has raised the Price Target to $ 67 from a previous price target of $64 .Company shares were Reiterated by Mizuho on May 24, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $56 .

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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