Exxonmobil Investment Management Inc Tx Lowers stake in PG&E Corporation (PCG)

PG&E Corporation (PCG) : Exxonmobil Investment Management Inc Tx reduced its stake in PG&E Corporation by 0.87% during the most recent quarter end. The investment management company now holds a total of 127,286 shares of PG&E Corporation which is valued at $7,550,606 after selling 1,114 shares in PG&E Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.PG&E Corporation makes up approximately 0.16% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in PCG during the most recent quarter. The investment firm sold 228 shares of PCG which is valued $13,525.Chevy Chase Trust Holdings reduced its stake in PCG by selling 7,884 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 417,516 shares of PCG which is valued at $24,529,065. PG&E Corporation makes up approx 0.13% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PCG by selling 41,273 shares or 15.0% in the most recent quarter. The Hedge Fund company now holds 233,836 shares of PCG which is valued at $13,737,865. PG&E Corporation makes up approx 0.06% of Bnp Paribas Arbitrage Sa’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 opened for trading at $59.43 and hit $59.9 on the upside on Friday, eventually ending the session at $59.32, with a gain of 0.53% or 0.31 points. The heightened volatility saw the trading volume jump to 36,92,902 shares. Company has a market cap of $29,571 M.

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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