Zimmer Partners LP trimmed its stake in PG&E Co. (NYSE:PCG) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 930,000 shares of the utilities provider’s stock after selling 120,000 shares during the quarter. PG&E comprises about 1.0% of Zimmer Partners LP’s holdings, making the stock its 29th biggest position. Zimmer Partners LP owned 0.18% of PG&E worth $41,692,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of PCG. Focused Wealth Management Inc acquired a new stake in PG&E in the fourth quarter worth $108,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of PG&E by 122.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,463 shares of the utilities provider’s stock valued at $110,000 after buying an additional 1,354 shares in the last quarter. Ford Financial Group Inc. bought a new position in shares of PG&E in the fourth quarter valued at $110,000. Wolverine Asset Management LLC bought a new position in shares of PG&E in the fourth quarter valued at $154,000. Finally, M&R Capital Management Inc. lifted its stake in shares of PG&E by 443.3% in the fourth quarter. M&R Capital Management Inc. now owns 4,346 shares of the utilities provider’s stock valued at $194,000 after buying an additional 3,546 shares in the last quarter. Institutional investors and hedge funds own 81.19% of the company’s stock.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $50.00 price objective (down from $57.00) on shares of PG&E in a research note on Wednesday, February 21st. Wells Fargo & Co reissued a “market perform” rating and set a $45.00 price target (down from $60.00) on shares of PG&E in a research report on Monday, February 12th. UBS Group assumed coverage on shares of PG&E in a research report on Friday, February 2nd. They set a “neutral” rating and a $48.00 price target on the stock. ValuEngine lowered shares of PG&E from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Citigroup reissued a “hold” rating and set a $45.00 price target on shares of PG&E in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $57.71.
PG&E (NYSE:PCG) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.83 billion. PG&E had a return on equity of 9.93% and a net margin of 9.69%. During the same quarter in the previous year, the business earned $1.33 EPS. analysts forecast that PG&E Co. will post 3.81 EPS for the current fiscal year.
In other news, COO Nickolas Stavropoulos sold 4,728 shares of PG&E stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total value of $198,245.04. Following the completion of the transaction, the chief operating officer now owns 82,830 shares in the company, valued at $3,473,061.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Julie Kane sold 936 shares of PG&E stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total transaction of $39,246.48. Following the completion of the transaction, the senior vice president now owns 17,602 shares of the company’s stock, valued at approximately $738,051.86. The disclosure for this sale can be found here. Insiders sold 8,875 shares of company stock valued at $372,129 in the last quarter. Corporate insiders own 0.15% of the company’s stock.
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PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. 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.
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