Toroso Investments LLC Boosts Stake in PG&E Co. (NYSE:PCG)

Toroso Investments LLC increased its position in PG&E Co. (NYSE:PCG – Get Rating) by 16.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 193,566 shares of the utilities provider’s stock after purchasing an additional 27,317 shares during the period. Toroso Investments LLC’s holdings in PG&E were worth $2,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Coastal Investment Advisors Inc. lifted its holdings in shares of PG&E by 1.2% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 60,803 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 692 shares during the last quarter. Global Retirement Partners LLC raised its stake in PG&E by 11.0% during the 3rd quarter. Global Retirement Partners LLC now owns 7,242 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 718 shares during the last quarter. IFP Advisors Inc raised its stake in PG&E by 3.4% during the 3rd quarter. IFP Advisors Inc now owns 24,495 shares of the utilities provider’s stock valued at $1,026,000 after acquiring an additional 800 shares during the last quarter. Utah Retirement Systems raised its stake in PG&E by 0.4% during the 3rd quarter. Utah Retirement Systems now owns 277,620 shares of the utilities provider’s stock valued at $3,470,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Concourse Financial Group Securities Inc. raised its stake in PG&E by 21.1% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,360 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 1,106 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PG&E

In other PG&E news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the stock in a transaction 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 sale, the insider now 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 SEC, which is available through this link. In other PG&E news, CEO Patricia K. Poppe sold 66,700 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.87, for a total transaction of $1,058,529.00. Following the sale, the chief executive officer now owns 1,269,325 shares in the company, valued at approximately $20,144,187.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $15.26, for a total value of $915,600,000.00. Following the sale, the insider now owns 187,743,590 shares in the company, valued at approximately $2,864,967,183.40. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

PG&E Stock Performance

PCG opened at $16.16 on Friday. The stock has a market cap of $39.85 billion, a P/E ratio of 19.24, a P/E/G ratio of 5.18 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.81 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $15.80 and its 200 day simple moving average is $14.97. PG&E Co. has a 1-year low of $9.64 and a 1-year high of $16.83.

PG&E (NYSE:PCG – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.70 billion. PG&E had a return on equity of 10.55% and a net margin of 8.37%. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, equities analysts anticipate that PG&E Co. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PCG shares. Credit Suisse Group upped their price objective on PG&E from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. StockNews.com started coverage on PG&E in a research note on Thursday. They set a “hold” rating for the company. Morgan Stanley cut their target price on PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Tuesday, January 3rd. Finally, Wells Fargo & Company increased their target price on PG&E to $20.00 in a research note on Wednesday, December 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.78.

PG&E Profile

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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 Oakland, CA.