Raymond James Financial Services Advisors Inc. Grows Stock Holdings in PG&E Co. (NYSE:PCG)

Raymond James Financial Services Advisors Inc. increased its stake in shares of PG&E Co. (NYSE:PCGGet Rating) by 2.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 69,690 shares of the utilities provider’s stock after acquiring an additional 1,715 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PG&E were worth $871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of PG&E by 38.6% during the second quarter. FMR LLC now owns 194,321,169 shares of the utilities provider’s stock worth $1,939,326,000 after buying an additional 54,108,481 shares during the last quarter. 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 worth $2,132,791,000 after buying an additional 4,877,501 shares during the last quarter. 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 worth $564,768,000 after buying an additional 5,534,131 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PG&E by 5.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 44,605,298 shares of the utilities provider’s stock valued at $445,160,000 after purchasing an additional 2,238,603 shares in the last quarter. Finally, State Street Corp boosted its holdings in PG&E by 33.4% in the 1st quarter. State Street Corp now owns 44,236,290 shares of the utilities provider’s stock valued at $528,181,000 after purchasing an additional 11,067,137 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

PG&E Price Performance

PCG stock opened at $15.65 on Monday. The firm has a 50 day moving average of $15.66 and a 200-day moving average of $13.76. PG&E Co. has a 12-month low of $9.64 and a 12-month high of $16.49. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 2.13. The company has a market cap of $38.58 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 5.01 and a beta of 1.10.

PG&E (NYSE:PCGGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. PG&E had a return on equity of 10.92% and a net margin of 8.21%. The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.95 billion. As a group, equities analysts expect that PG&E Co. will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCG. Citigroup lifted their price objective on PG&E from $14.00 to $19.00 in a report on Friday, October 28th. Morgan Stanley lifted their price objective on PG&E from $12.50 to $14.00 and gave the company an “equal weight” rating in a report on Friday, November 11th. StockNews.com began coverage on PG&E in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group lifted their price objective on PG&E from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Finally, UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Tuesday, January 3rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $17.44.

Insider Buying and Selling

In related news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $15.26, for a total transaction of $915,600,000.00. Following the completion of the transaction, the insider now directly owns 187,743,590 shares in the company, valued at approximately $2,864,967,183.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

PG&E Company Profile

(Get Rating)

PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in San Francisco, CA.

Further Reading

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

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