Maryland State Retirement & Pension System Buys 37,949 Shares of PG&E Co. (NYSE:PCG)

Maryland State Retirement & Pension System grew its stake in PG&E Co. (NYSE:PCGGet Rating) by 32.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,836 shares of the utilities provider’s stock after acquiring an additional 37,949 shares during the period. Maryland State Retirement & Pension System’s holdings in PG&E were worth $1,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCG. HighTower Advisors LLC grew its holdings in shares of PG&E by 63.0% in the 3rd quarter. HighTower Advisors LLC now owns 62,673 shares of the utilities provider’s stock valued at $600,000 after acquiring an additional 24,225 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PG&E by 8.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,149 shares of the utilities provider’s stock valued at $24,028,000 after purchasing an additional 201,063 shares during the last quarter. Invesco Ltd. lifted its stake in PG&E by 12.2% in the 3rd quarter. Invesco Ltd. now owns 2,108,839 shares of the utilities provider’s stock valued at $20,245,000 after purchasing an additional 228,572 shares during the last quarter. Guggenheim Capital LLC lifted its stake in PG&E by 36.5% in the 3rd quarter. Guggenheim Capital LLC now owns 133,424 shares of the utilities provider’s stock valued at $1,281,000 after purchasing an additional 35,705 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in PG&E by 76.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 88,836 shares of the utilities provider’s stock valued at $853,000 after purchasing an additional 38,535 shares during the last quarter. Institutional investors own 75.20% of the company’s stock.

Several brokerages recently issued reports on PCG. Credit Suisse Group began coverage on shares of PG&E in a research note on Monday, April 25th. They issued an “outperform” rating and a $17.00 target price for the company. StockNews.com began coverage on shares of PG&E in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley cut their target price on shares of PG&E from $14.00 to $13.50 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Mizuho raised their price objective on shares of PG&E from $16.00 to $18.00 in a research report on Tuesday, April 12th. Finally, UBS Group raised their price objective on shares of PG&E to $18.00 in a research report on Friday, June 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and an average price target of $16.10.

Shares of PCG opened at $9.90 on Thursday. PG&E Co. has a 12 month low of $8.24 and a 12 month high of $13.19. The firm’s 50 day moving average is $11.90 and its 200-day moving average is $11.93. The stock has a market capitalization of $24.41 billion, a PE ratio of 141.45, a P/E/G ratio of 3.58 and a beta of 1.18. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

PG&E (NYSE:PCGGet Rating) last announced its earnings results on Thursday, April 28th. The utilities provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. PG&E had a net margin of 1.21% and a return on equity of 10.75%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts predict that PG&E Co. will post 1.09 earnings per share for the current fiscal year.

In other news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $12.04, for a total transaction of $722,400,000.00. Following the transaction, the insider now directly owns 377,743,590 shares of the company’s stock, valued at $4,548,032,823.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

PG&E Profile (Get Rating)

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)

Want More Great Investing Ideas?

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.