Mackenzie Financial Corp Sells 239,015 Shares of PG&E Co. (NYSE:PCG)

Mackenzie Financial Corp cut its holdings in PG&E Co. (NYSE:PCGGet Rating) by 67.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,965 shares of the utilities provider’s stock after selling 239,015 shares during the period. Mackenzie Financial Corp’s holdings in PG&E were worth $1,147,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in PG&E by 400.4% in the 1st quarter. SG Americas Securities LLC now owns 137,484 shares of the utilities provider’s stock worth $1,642,000 after purchasing an additional 110,008 shares during the last quarter. Signaturefd LLC lifted its stake in shares of PG&E by 66.0% in the first quarter. Signaturefd LLC now owns 2,135 shares of the utilities provider’s stock worth $25,000 after buying an additional 849 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of PG&E by 2.2% during the 1st quarter. Arizona State Retirement System now owns 414,482 shares of the utilities provider’s stock worth $4,949,000 after buying an additional 9,093 shares during the period. Shell Asset Management Co. grew its stake in PG&E by 4.4% in the 1st quarter. Shell Asset Management Co. now owns 108,271 shares of the utilities provider’s stock valued at $1,293,000 after buying an additional 4,543 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in PG&E by 33.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 230,485 shares of the utilities provider’s stock worth $2,752,000 after acquiring an additional 57,504 shares during the period. 79.59% of the stock is owned by institutional investors and hedge funds.

PG&E Stock Up 0.8 %

Shares of PCG opened at $15.24 on Thursday. PG&E Co. has a 12 month low of $9.64 and a 12 month high of $15.60. The stock has a market cap of $37.57 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 5.40 and a beta of 1.13. The company has a 50-day moving average price of $14.23 and a two-hundred day moving average price of $12.38. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 2.13.

Insider Buying and Selling

In other PG&E news, major shareholder Pg&E Fire Victim Trust sold 35,000,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $14.77, for a total transaction of $516,950,000.00. Following the completion of the transaction, the insider now directly owns 307,743,590 shares in the company, valued at $4,545,372,824.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Pg&E Fire Victim Trust sold 35,000,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $14.77, for a total value of $516,950,000.00. Following the transaction, the insider now directly owns 307,743,590 shares of the company’s stock, valued at approximately $4,545,372,824.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patricia K. Poppe sold 83,330 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $13.00, for a total value of $1,083,290.00. Following the sale, the chief executive officer now owns 704,187 shares in the company, valued at $9,154,431. The disclosure for this sale can be found here. Insiders sold 70,083,330 shares of company stock worth $995,783,290 in the last 90 days. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of PG&E from $14.00 to $19.00 in a report on Friday, October 28th. StockNews.com started coverage on PG&E in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada upped their price target on PG&E from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, October 7th. Morgan Stanley raised their price objective on shares of PG&E from $12.50 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, November 11th. Finally, Credit Suisse Group upped their target price on shares of PG&E from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $17.38.

PG&E Company Profile

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PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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