Cambridge Investment Research Advisors Inc. Acquires 21,165 Shares of PG&E Co. (NYSE:PCG)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 36.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 79,017 shares of the utilities provider’s stock after acquiring an additional 21,165 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in PG&E were worth $1,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Trust N.A. raised its position in shares of PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 680 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of PG&E by 1.5% in the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock valued at $817,000 after buying an additional 691 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of PG&E by 5.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider’s stock valued at $258,000 after buying an additional 835 shares in the last quarter. Caprock Group LLC increased its position in shares of PG&E by 5.1% in the 4th quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider’s stock valued at $370,000 after buying an additional 999 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of PG&E by 6.7% in the 4th quarter. Lindbrook Capital LLC now owns 16,431 shares of the utilities provider’s stock valued at $296,000 after buying an additional 1,038 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the transaction, the chief executive officer now directly owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of NYSE PCG opened at $18.21 on Friday. The firm has a market cap of $52.42 billion, a PE ratio of 16.25 and a beta of 1.19. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.95. The company has a fifty day moving average price of $17.51 and a 200 day moving average price of $17.22.

PG&E (NYSE:PCGGet Free Report) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. PG&E’s dividend payout ratio is 3.57%.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Morgan Stanley upped their price objective on shares of PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Barclays upped their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Check Out Our Latest Report on PG&E

PG&E Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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