Fintel reports that BlackRock
has filed a 13G form
with the SEC disclosing ownership of
129.87MM
shares of PG&E Corporation (PCG).
This represents 5.3% of the company.
In their previous filing dated February 11, 2019
they reported 44.20MM shares and 8.50% of the company,
an increase in shares of 193.81%
and
a decrease in total ownership of
3.20% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 19.25% Upside
As of February 2, 2023,
the average one-year price target for PG&E is $18.64.
The forecasts range from a low of $15.15 to a high of $21.00.
The average price target represents an increase of 19.25% from its latest reported closing price of $15.63.
The projected annual revenue for PG&E
is $23,495MM, an increase of 9.00%.
The projected annual EPS
is $1.23, an increase of 39.13%.
Fund Sentiment
There are 999 funds or institutions reporting positions in PG&E.
This is an increase
of
114
owner(s) or 12.88%.
Average portfolio weight of all funds dedicated to US:PCG is 0.5288%,
an increase
of 13.2460%.
Total shares owned by institutions increased
in the last three months by 9.01% to 2,163,312K shares.
What are large shareholders doing?
Capital Research Global Investors
holds 200,528,674 shares
representing 10.09% ownership of the company.
In it’s prior filing, the firm reported owning 186,412,554 shares, representing
an increase
of 7.04%.
The firm
increased
its portfolio allocation in PCG by 42.12% over the last quarter.
AIVSX – INVESTMENT CO OF AMERICA
holds 91,361,505 shares
representing 4.60% ownership of the company.
No change in the last quarter.
AGTHX – GROWTH FUND OF AMERICA
holds 80,735,542 shares
representing 4.06% ownership of the company.
In it’s prior filing, the firm reported owning 87,273,377 shares, representing
a decrease
of 8.10%.
The firm
increased
its portfolio allocation in PCG by 19.48% over the last quarter.
Third Point
holds 63,400,000 shares
representing 3.19% ownership of the company.
In it’s prior filing, the firm reported owning 65,400,000 shares, representing
a decrease
of 3.15%.
The firm
decreased
its portfolio allocation in PCG by 7.32% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 62,510,618 shares
representing 3.14% ownership of the company.
In it’s prior filing, the firm reported owning 61,722,298 shares, representing
an increase
of 1.26%.
The firm
increased
its portfolio allocation in PCG by 32.23% over the last quarter.
PG&E Background Information
(This description is provided by the company.)
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.