MML Investors Services LLC Purchases 11,010 Shares of PG&E Co. (NYSE:PCG)

MML Investors Services LLC lifted its position in PG&E Co. (NYSE:PCG – Get Rating) by 49.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 33,407 shares of the utilities provider’s stock after purchasing an additional 11,010 shares during the period. MML Investors Services LLC’s holdings in PG&E were worth $418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCG. Raymond James & Associates grew its holdings in shares of PG&E by 44.3% in the first quarter. Raymond James & Associates now owns 337,858 shares of the utilities provider’s stock worth $4,034,000 after purchasing an additional 103,767 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in PG&E by 86.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 146,663 shares of the utilities provider’s stock worth $1,751,000 after acquiring an additional 67,898 shares during the period. American Century Companies Inc. lifted its stake in PG&E by 190.4% in the first quarter. American Century Companies Inc. now owns 183,755 shares of the utilities provider’s stock worth $2,194,000 after acquiring an additional 120,468 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in PG&E by 3.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,636 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 1,122 shares during the period. Finally, Cetera Advisor Networks LLC purchased a new stake in PG&E in the first quarter worth $154,000. Institutional investors own 83.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Credit Suisse Group raised their price target on PG&E from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Wells Fargo & Company raised their price objective on PG&E to $20.00 in a research report on Wednesday, December 14th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Tuesday, January 3rd. Morgan Stanley lowered their price objective on PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Finally, Jefferies Financial Group reissued a “neutral” rating and set a $17.00 price objective on shares of PG&E in a research report on Tuesday, January 3rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.67.

Insider Buying and Selling

In related news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $15.26, for a total value of $915,600,000.00. Following the completion of the sale, the insider now directly owns 187,743,590 shares in the company, valued at approximately $2,864,967,183.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Patricia K. Poppe sold 66,700 shares of PG&E stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.87, for a total value of $1,058,529.00. Following the completion of the sale, the chief executive officer now directly owns 1,269,325 shares in the company, valued at approximately $20,144,187.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $15.26, for a total value of $915,600,000.00. Following the completion of the sale, the insider now owns 187,743,590 shares of the company’s stock, valued at $2,864,967,183.40. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

PG&E Price Performance

PCG opened at $16.32 on Thursday. The stock has a 50-day moving average price of $15.80 and a 200-day moving average price of $14.83. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $40.25 billion, a PE ratio of 19.43, a P/E/G ratio of 5.48 and a beta of 1.10. PG&E Co. has a 1 year low of $9.64 and a 1 year high of $16.83.

PG&E (NYSE:PCG – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.70 billion. PG&E had a return on equity of 10.55% and a net margin of 8.37%. During the same period in the prior year, the firm earned $0.28 EPS. Sell-side analysts predict that PG&E Co. will post 1.22 earnings per share for the current fiscal year.

PG&E Profile

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PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.