Sequoia Financial Advisors LLC Boosts Stock Position in PG&E Co. (NYSE:PCG)

Sequoia Financial Advisors LLC lifted its position in PG&E Co. (NYSE:PCG) by 58.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,375 shares of the utilities provider’s stock after purchasing an additional 15,296 shares during the period. Sequoia Financial Advisors LLC’s holdings in PG&E were worth $746,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PCG. Raymond James Trust N.A. increased its position in shares of PG&E by 4.2% in the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 680 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in PG&E by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 691 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in PG&E by 5.5% during the first quarter. Wetherby Asset Management Inc. now owns 14,490 shares of the utilities provider’s stock valued at $234,000 after buying an additional 752 shares during the period. Centre Asset Management LLC grew its stake in shares of PG&E by 4.9% during the third quarter. Centre Asset Management LLC now owns 15,994 shares of the utilities provider’s stock valued at $258,000 after buying an additional 753 shares during the last quarter. Finally, Lumbard & Kellner LLC increased its holdings in shares of PG&E by 3.1% in the fourth quarter. Lumbard & Kellner LLC now owns 26,003 shares of the utilities provider’s stock worth $423,000 after buying an additional 790 shares during the period. 78.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Barclays reduced their price target on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $18.78.

PG&E Trading Down 1.9 %

Shares of PCG opened at $16.29 on Tuesday. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 15.51 and a beta of 1.32. The firm’s 50-day moving average price is $16.51 and its 200-day moving average price is $16.83. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the business earned $0.26 EPS. Sell-side analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

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.