PG&E Co. (NYSE:PCG) Position Increased by Signaturefd LLC

Signaturefd LLC raised its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 9.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,280 shares of the utilities provider’s stock after purchasing an additional 1,009 shares during the period. Signaturefd LLC’s holdings in PG&E were worth $223,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PCG. Axxcess Wealth Management LLC grew its position in shares of PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 614 shares during the last quarter. Ballentine Partners LLC grew its position in PG&E by 3.1% in the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after buying an additional 666 shares in the last quarter. Alta Advisers Ltd grew its position in PG&E by 19.5% in the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after buying an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in PG&E by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock valued at $125,000 after buying an additional 863 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of PG&E by 8.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 917 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCG. Jefferies Financial Group began coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. UBS Group raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised 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 Friday, July 26th. Bank of America initiated coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Finally, Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

Check Out Our Latest Research Report on PG&E

PG&E Price Performance

Shares of PCG opened at $20.36 on Friday. The firm has a market cap of $53.25 billion, a PE ratio of 17.40, a PEG ratio of 1.58 and a beta of 1.01. The firm’s 50 day moving average price is $19.77 and its 200 day moving average price is $18.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a twelve month low of $15.59 and a twelve month high of $20.93.

PG&E (NYSE:PCGGet Free Report) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, research analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s payout ratio is presently 3.42%.

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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