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.
