Luminus Management buys $252,669,669 stake in PG&E Corporation (PCG)

PG&E Corporation (PCG) : Luminus Management scooped up 530,000 additional shares in PG&E Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,940,575 shares of PG&E Corporation which is valued at $252,669,669.PG&E Corporation makes up approximately 9.00% of Luminus Management’s portfolio.

Other Hedge Funds, Including , Amp Capital Investors Ltd boosted its stake in PCG in the latest quarter, The investment management firm added 8,359 additional shares and now holds a total of 374,888 shares of PG&E Corporation which is valued at $24,037,819. PG&E Corporation makes up approx 0.15% of Amp Capital Investors Ltd’s portfolio.Fort Washington Investment Advisors Inc Oh boosted its stake in PCG in the latest quarter, The investment management firm added 4,100 additional shares and now holds a total of 8,000 shares of PG&E Corporation which is valued at $512,960. PG&E Corporation makes up approx 0.01% of Fort Washington Investment Advisors Inc Oh’s portfolio.Peak6 Investments boosted its stake in PCG in the latest quarter, The investment management firm added 12,140 additional shares and now holds a total of 13,995 shares of PG&E Corporation which is valued at $897,359. PG&E Corporation makes up approx 0.05% of Peak6 Investments’s portfolio.Intersect Capital boosted its stake in PCG in the latest quarter, The investment management firm added 11 additional shares and now holds a total of 6,298 shares of PG&E Corporation which is valued at $403,576. PG&E Corporation makes up approx 0.24% of Intersect Capital’s portfolio.Ridgeworth Capital Management boosted its stake in PCG in the latest quarter, The investment management firm added 191,875 additional shares and now holds a total of 732,525 shares of PG&E Corporation which is valued at $46,808,348. PG&E Corporation makes up approx 0.40% of Ridgeworth Capital Management’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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