Lido Advisors LLC Buys 2,671 Shares of PG&E Co. (NYSE:PCG)

Lido Advisors LLC raised its stake in PG&E Co. (NYSE:PCG) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,212 shares of the utilities provider’s stock after purchasing an additional 2,671 shares during the period. Lido Advisors LLC’s holdings in PG&E were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCG. Vanguard Group Inc. grew its holdings in shares of PG&E by 2.8% during the first quarter. Vanguard Group Inc. now owns 178,625,714 shares of the utilities provider’s stock valued at $2,132,791,000 after buying an additional 4,877,501 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PG&E by 12.8% during the first quarter. BlackRock Inc. now owns 134,314,990 shares of the utilities provider’s stock valued at $2,171,873,000 after buying an additional 15,210,198 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PG&E by 43.6% during the first quarter. JPMorgan Chase & Co. now owns 62,502,105 shares of the utilities provider’s stock valued at $1,010,660,000 after buying an additional 18,984,092 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PG&E by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,328,088 shares of the utilities provider’s stock valued at $813,807,000 after buying an additional 1,475,235 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of PG&E by 13.3% during the first quarter. Capital International Investors now owns 47,300,517 shares of the utilities provider’s stock valued at $564,768,000 after buying an additional 5,534,131 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

PG&E Stock Performance

NYSE PCG opened at $17.92 on Monday. The company’s 50 day moving average is $16.49 and its 200-day moving average is $16.89. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 2.09. The firm has a market cap of $46.79 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.15. PG&E Co. has a 12-month low of $14.69 and a 12-month high of $18.19.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). PG&E had a return on equity of 9.21% and a net margin of 8.13%. The company had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the firm earned $0.29 EPS. PG&E’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts predict that PG&E Co. will post 1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PCG shares. Mizuho lifted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday. StockNews.com cut shares of PG&E from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Evercore ISI restated an “in-line” rating and set a $16.00 price target on shares of PG&E in a report on Monday, October 23rd. Morgan Stanley cut their price target on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 23rd. Finally, UBS Group raised shares of PG&E from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $21.00 in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.63.

Insider Buying and Selling at PG&E

In other PG&E news, Director Cheryl F. Campbell sold 10,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total transaction of $169,000.00. Following the completion of the sale, the director now owns 54,153 shares of the company’s stock, valued at approximately $915,185.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

About PG&E

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.