Raymond James & Associates Has $7.32 Million Position in PG&E Co. (NYSE:PCG)

Raymond James & Associates increased its stake in shares of PG&E Co. (NYSE:PCG – Get Rating) by 10.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 449,971 shares of the utilities provider’s stock after buying an additional 42,672 shares during the quarter. Raymond James & Associates’ holdings in PG&E were worth $7,317,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PCG. CI Investments Inc. boosted its holdings in shares of PG&E by 770.6% in the 3rd quarter. CI Investments Inc. now owns 2,159 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,911 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of PG&E in the 4th quarter valued at $57,000. Dupont Capital Management Corp acquired a new stake in shares of PG&E in the 4th quarter valued at $62,000. Sandia Investment Management LP acquired a new stake in shares of PG&E in the 3rd quarter valued at $63,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of PG&E in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

PG&E Stock Performance

PCG stock opened at $16.61 on Friday. The stock has a 50-day moving average price of $16.62 and a 200-day moving average price of $15.98. PG&E Co. has a 1-year low of $9.64 and a 1-year high of $17.68. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 2.06. The firm has a market cap of $41.09 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

PG&E (NYSE:PCG – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. PG&E had a return on equity of 10.21% and a net margin of 8.64%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that PG&E Co. will post 1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCG has been the subject of a number of research reports. LADENBURG THALM/SH SH initiated coverage on PG&E in a research note on Monday, April 3rd. They issued a “buy” rating and a $20.50 price target for the company. StockNews.com initiated coverage on PG&E in a research note on Thursday. They issued a “hold” rating for the company. Morgan Stanley increased their price target on PG&E from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, April 20th. Credit Suisse Group raised their target price on PG&E from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of PG&E in a research report on Friday, March 10th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.17.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 66,700 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.87, for a total value of $1,058,529.00. Following the completion of the sale, the chief executive officer now directly owns 1,269,325 shares in the company, valued at approximately $20,144,187.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

About PG&E

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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.