Public Employees Retirement Association of Colorado boosted its holdings in shares of PG&E Co. (NYSE:PCG – Free Report) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,035 shares of the utilities provider’s stock after acquiring an additional 39,378 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PG&E were worth $3,992,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ballentine Partners LLC increased its stake in PG&E by 5.2% during the second quarter. Ballentine Partners LLC now owns 11,818 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 584 shares during the last quarter. IFP Advisors Inc boosted its position in shares of PG&E by 725.8% during the second quarter. IFP Advisors Inc now owns 768 shares of the utilities provider’s stock worth $32,000 after buying an additional 675 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of PG&E by 1.2% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 60,311 shares of the utilities provider’s stock worth $975,000 after buying an additional 704 shares during the period. Kentucky Retirement Systems boosted its position in shares of PG&E by 0.6% during the first quarter. Kentucky Retirement Systems now owns 127,301 shares of the utilities provider’s stock worth $2,058,000 after buying an additional 720 shares during the period. Finally, Wetherby Asset Management Inc. boosted its position in shares of PG&E by 5.5% during the first quarter. Wetherby Asset Management Inc. now owns 14,490 shares of the utilities provider’s stock worth $234,000 after buying an additional 752 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on PCG shares. Barclays lowered their price target on PG&E from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. JPMorgan Chase & Co. lowered their price target on PG&E from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Guggenheim decreased their target price on PG&E from $21.00 to $19.00 in a report on Monday, October 9th. Evercore ISI reiterated an “in-line” rating and issued a $16.00 target price on shares of PG&E in a report on Monday, October 23rd. Finally, StockNews.com lowered PG&E from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PG&E has a consensus rating of “Hold” and a consensus price target of $18.54.
Insider Transactions at PG&E
In related news, Director Cheryl F. Campbell sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $16.90, for a total value of $169,000.00. Following the transaction, the director now owns 54,153 shares in the company, valued at approximately $915,185.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.
PG&E Stock Up 0.7 %
Shares of NYSE PCG opened at $17.52 on Thursday. The business has a 50-day moving average of $16.44 and a two-hundred day moving average of $16.88. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.84 and a quick ratio of 0.79. PG&E Co. has a 1 year low of $14.36 and a 1 year high of $18.19. The company has a market capitalization of $45.75 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 5.45 and a beta of 1.15.
PG&E (NYSE:PCG – Get Free Report) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). PG&E had a return on equity of 9.21% and a net margin of 8.13%. The firm had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts forecast that PG&E Co. will post 1.21 earnings per share for the current fiscal year.
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.
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