雅虎香港財經 PG&E Corporation (PCG) Outperformed in Q4
ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, on a relative basis, the strategy underperformed as measured against the S&P Global Infrastructure Index. On an absolute basis, the strategy gained in seven of nine sectors in which it was invested in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Global Infrastructure Value Strategy highlighted stocks like PPG&E Corporation (NYSE:PCG) in the fourth quarter investor letter. Headquartered in Oakland, California, PG&E Corporation (NYSE:PCG) engages in the sale and distribution of electricity and natural gas. On March 2, 2023, PG&E Corporation (NYSE:PCG) stock closed at $15.85 per share. One-month return of PG&E Corporation (NYSE:PCG) was 1.93%, and its shares gained 41.52% of their value over the last 52 weeks. PG&E Corporation (NYSE:PCG) has a market capitalization of $36.114 billion.
ClearBridge Global Infrastructure Value Strategy made the following comment about PG&E Corporation (NYSE:PCG) in its Q4 2022 investor letter:
"Turning to the U.S. and Canada, U.S. electric utility PG&E Corporation (NYSE:PCG) and U.S. water company American Water Works (AWK) also made strong contributions. PG&E is a regulated utility operating in central and northern California that serves 5.3 million electricity customers and 4.4 million gas customers in 47 of the state’s 58 counties. PG&E outperformed given several positive catalysts: it was included in the S&P 500 Index, the Fire Victim’s Trust sold some of its stake in the company, easing a market overhang, and the company displayed evidence of its operational improvements, with no major fires seen so far this fire season."
High-voltage power lines. Electricity distribution station. high voltage electric transmission tower. Distribution electric substation with power lines and transformers.
PG&E Corporation (NYSE:PCG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held PG&E Corporation (NYSE:PCG) at the end of the fourth quarter which was 46 in the previous quarter.
We discussed PG&E Corporation (NYSE:PCG) in another article and shared the list of most profitable utility stocks. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
