Wedge Capital Management L L Pnc buys $176,275,244 stake in PG&E Corporation (PCG)

PG&E Corporation (PCG) : Wedge Capital Management L L Pnc scooped up 138,033 additional shares in PG&E Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 2,987,716 shares of PG&E Corporation which is valued at $176,275,244.PG&E Corporation makes up approximately 1.82% of Wedge Capital Management L L Pnc’s portfolio.

PG&E Corporation closed down -0.15 points or -0.25% at $59 with 23,25,430 shares getting traded on Friday. Post opening the session at $59.14, the shares hit an intraday low of $58.58 and an intraday high of $59.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Cadence Capital Management reduced its stake in PCG by selling 13,637 shares or 50.03% in the most recent quarter. The Hedge Fund company now holds 13,619 shares of PCG which is valued at $803,521. PG&E Corporation makes up approx 0.06% of Cadence Capital Management’s portfolio.

On the company’s financial health, PG&E Corporation reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.75. The company had revenue of $3974.00 million for the quarter, compared to analysts expectations of $4041.23 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 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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