Portman Square Capital 13F: Exits PG&E (PCG) Stake

Portman Square Capital has sold its entire stake in PG&E Corporation (NYSE: PCG), closing out its position of 230,773 shares. The filing on October 15, 2026, shows the fund valued its former holdings at around $3 million. This marks a complete exit from the investment, which had previously accounted for the entirety of its position in the utility company.

What Changed in Portman Square Capital's PG&E Position

In the recent filing, Portman Square Capital disclosed that it cut its position in PG&E Corporation by selling all of its 230,773 shares, resulting in a 100% decrease in its stake. The fund's decision reflects a significant shift in its investment strategy concerning this utility stock.

Other Institutional Activity in PG&E

Several other institutional investors have recently adjusted their positions in PG&E. Blackrock Inc. increased its holdings by 7,625,086 shares, bringing its total to over 203 million shares worth about $2.66 billion. Vanguard Capital Management LLC added 973,335 shares, raising its position to approximately 142 million shares valued at around $1.86 billion. State Street Corporation also grew its stake by 2,605,700 shares, changing its total to about 128 million shares worth approximately $1.68 billion. FMR, LLC adjusted its holdings with an increase of 488,191 shares, resulting in a total of about 120 million shares valued at around $1.57 billion.

PG&E Corporation Stock Up 1.7%

As of October 16, PG&E shares recently traded around $13.18. The stock is currently below both its 50-day moving average of $14.63 and its 200-day moving average of $16.40, indicating potential challenges. Additionally, the stock is about 31.2% below its 52-week high of $19.16, although it is 12% above its 52-week low of $11.77. The mean price target from analysts is $18.50, suggesting the stock is trading below expected levels.

Recent Earnings

PG&E Corporation reported trailing-twelve-month revenue of approximately $25.84 billion, with an earnings per share of $1.38. The company's net margin stands at 11.8%, and it has a return on equity of 9.3%. The next earnings report is scheduled for October 22, 2026, which investors will be monitoring closely for further insights into its performance.

Insider Buying and Selling at PG&E Corporation

Insider trading activity at PG&E includes recent sales by several directors. Kerry Whorton Cooper and Marlene Santos each sold shares on July 22, 2026, with values of $22,500 and $2.85 million, respectively. William Craig Fugate sold 6,500 shares on September 4, 2026, valued at about $89,440. However, John O. Larsen purchased 7,500 shares on September 30, 2026, at an average price of $12.20, totaling approximately $91,500.

Analysts Set New Price Targets

Analysts have been active in adjusting their ratings for PG&E. On September 4, 2026, B of A Securities maintained a Neutral rating with a price target of $14.00, up from $13.00. Morgan Stanley also maintained its Equal-Weight rating but reduced its target from $22.00 to $20.00 on September 18. UBS downgraded its rating to Neutral on September 23, with a new target of $14.00, down from $19.00. Recently, on October 12, both Barclays and JP Morgan maintained Overweight ratings with targets of $17.00, down from $18.00.

About PG&E Corporation

PG&E Corporation operates through its subsidiary, Pacific Gas and Electric Company, delivering electricity and natural gas to customers in California. The company generates power from a mix of sources, including nuclear and renewable energy. Recent shifts in institutional ownership suggest changing perspectives on the company’s future prospects and market conditions.

Bottom Line

Portman Square Capital's complete exit from PG&E Corporation could signal a change in sentiment toward the utility sector. Investors should keep an eye on the upcoming earnings report on October 22, 2026, as well as any additional filings from other institutional investors to gauge market sentiment further. Remember, this filing reflects holdings as of the reporting period and may not represent current positions.