Hexavest buys $46,694,669 stake in PG&E Corporation (PCG)

PG&E Corporation (PCG) : Hexavest scooped up 347,913 additional shares in PG&E Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 793,857 shares of PG&E Corporation which is valued at $46,694,669.PG&E Corporation makes up approximately 0.85% of Hexavest’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in PCG in the latest quarter, The investment management firm added 2,049 additional shares and now holds a total of 21,036 shares of PG&E Corporation which is valued at $1,237,338. PG&E Corporation makes up approx 0.01% of Creative Planning’s portfolio.Raymond James Trust N.a. reduced its stake in PCG by selling 991 shares or 5.17% in the most recent quarter. The Hedge Fund company now holds 18,179 shares of PCG which is valued at $1,081,105. PG&E Corporation makes up approx 0.09% of Raymond James Trust N.a.’s portfolio.Cutler Group Lp reduced its stake in PCG by selling 22,891 shares or 79.48% in the most recent quarter. The Hedge Fund company now holds 5,909 shares of PCG which is valued at $351,408. PG&E Corporation makes up approx 0.02% of Cutler Group Lp’s portfolio. Washington Trust Bank added PCG to its portfolio by purchasing 70 company shares during the most recent quarter which is valued at $4,113.

PG&E Corporation closed down -0.65 points or -1.09% at $58.82 with 25,31,678 shares getting traded on Tuesday. Post opening the session at $59.39, the shares hit an intraday low of $58.68 and an intraday high of $59.51 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 .

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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