Victory Capital Management Inc. Grows Holdings in PG&E Co. (NYSE:PCG)

Victory Capital Management Inc. grew its holdings in PG&E Co. (NYSE:PCG – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 640,148 shares of the utilities provider’s stock after purchasing an additional 8,739 shares during the period. Victory Capital Management Inc.’s holdings in PG&E were worth $10,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCG. CI Investments Inc. increased its stake in PG&E by 770.6% in the third quarter. CI Investments Inc. now owns 2,159 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 1,911 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of PG&E during the fourth quarter valued at $57,000. Dupont Capital Management Corp purchased a new position in shares of PG&E during the fourth quarter valued at $62,000. Sandia Investment Management LP purchased a new position in shares of PG&E during the third quarter valued at $63,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of PG&E during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

PG&E Price Performance

Shares of PCG stock opened at $16.47 on Thursday. PG&E Co. has a 1-year low of $9.64 and a 1-year high of $17.68. The stock’s 50-day moving average is $16.66 and its 200 day moving average is $16.01. The company has a market cap of $40.74 billion, a P/E ratio of 18.51, a PEG ratio of 5.39 and a beta of 1.13. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.83 and a quick ratio of 0.77.

PG&E (NYSE:PCG – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. PG&E had a return on equity of 10.21% and a net margin of 8.64%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Research analysts predict that PG&E Co. will post 1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com assumed coverage on PG&E in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group raised their price target on PG&E from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. LADENBURG THALM/SH SH assumed coverage on PG&E in a research note on Monday, April 3rd. They set a “buy” rating and a $20.50 price target on the stock. Morgan Stanley raised 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of PG&E in a research note on Friday, March 10th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.17.

Insiders Place Their Bets

In other PG&E 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 owns 1,269,325 shares of the company’s stock, valued at $20,144,187.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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.