Evergreen Capital Management 13F: Exits PG&E (PCG) Stake

Evergreen Capital Management closed out its position in PG&E Corporation (NYSE: PCG) by selling all 402,064 shares, according to a Form 13F filing with the SEC on October 23, 2026. The complete liquidation ended the fund's investment in the utility provider during the quarter. PG&E Corporation closed at $12.63 on the day of the filing.

PCG PG&E Corporation

$12.63 ▼ -21.60% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Evergreen Capital Management's PG&E Corporation Position

Evergreen Capital Management completely exited its holding in PG&E Corporation, reducing its share count from 402,064 shares down to zero. The portfolio change represents a 100.0% reduction as the firm closed out the position entirely.

Other Institutional Activity in PG&E Corporation

Other major institutional investors made mixed adjustments to their positions in PG&E Corporation around the same reporting period. Massachusetts Financial Services Co. grew its holdings by 7,909,077 shares, ending with 101,483,416 shares worth about $1.28 billion. AQR Capital Management, LLC grew its holdings by 51,739 shares, ending with 86,284,177 shares worth about $1.09 billion. Deutsche Bank AG grew its holdings by 3,696,207 shares, ending with 40,201,738 shares worth about $507.7 million. Gallagher Fiduciary Advisors, LLC grew its holdings by 20,118,833 shares, ending with 38,625,717 shares worth about $487.8 million.

PG&E Corporation Stock Down 4.1%

PG&E Corporation shares recently traded around $12.62 as of October 24, 2026, which is about equal to the $12.63 close on the filing date. The stock sits about 11.2% below its 50-day moving average of $14.22 and about 22.7% below its 200-day moving average of $16.32. The shares have traded in a 52-week range between $11.77 and $19.16, putting the recent price about 34.1% below the 52-week high and 7.2% above the 52-week low.

Recent Earnings

PG&E Corporation reported trailing-twelve-month revenue of $25.8 billion alongside basic earnings of $1.35 per share. The company operates with a net profit margin of 11.8% and a return on equity of 9.3%. The next earnings report is scheduled for February 11, 2027.

Dividend

PG&E Corporation pays an annual dividend rate of $0.20 per share, delivering a dividend yield of 1.54%. The company's payout ratio stands at 12.7%.

Insider Buying and Selling at PG&E Corporation

Director Kerry Whorton Cooper sold 1,250 shares on July 22, 2026, at a price of $18.00 per share for a total value of $22,500. Divisional Officer Marlene Santos sold 158,250 shares on July 22, 2026, at a price of $18.00 per share for a total value of $2,848,500. Director William Craig Fugate sold 6,500 shares on September 4, 2026, at a price of $13.76 per share for a total value of $89,440. Director John O Larsen bought 7,500 shares on September 30, 2026, at a price of $12.20 per share for a total value of $91,500. None of these transactions were reported under a Rule 10b5-1 plan.

Analysts Set New Price Targets

On September 23, 2026, UBS downgraded the stock to Neutral with a price target of $14.00. On October 12, 2026, Barclays maintained an Overweight rating on the stock with a price target of $17.00. On October 12, 2026, JP Morgan maintained an Overweight rating with a price target of $17.00. On October 21, 2026, Morgan Stanley maintained an Equal-Weight rating with a price target of $21.00. On October 23, 2026, Wells Fargo maintained an Equal-Weight rating with a price target of $14.00. Overall, the stock carries a consensus buy recommendation from 17 analyst opinions, with a mean price target of $17.50.

About PG&E Corporation

PG&E Corporation operates through its primary utility subsidiary to provide electricity and natural gas service to residential, commercial, and industrial customers across northern and central California. The company generates power utilizing a diverse mix of nuclear, hydroelectric, fossil fuel, fuel cell, and photovoltaic energy sources. Institutional portfolio shifts like Evergreen Capital's exit highlight how professional managers continuously reallocate capital across major regulated utility holdings.

Bottom Line

Investors tracking PG&E Corporation will look toward the company's upcoming earnings release on February 11, 2027, for updates on financial performance and operational execution. Future regulatory filings will reveal whether other institutional funds follow Evergreen Capital in altering positions in the utility provider.