PG&E Co. (NYSE:PCG) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in PG&E Co. (NYSE:PCGFree Report) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 884,500 shares of the utilities provider’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in PG&E were worth $15,284,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Clear Street Markets LLC purchased a new position in shares of PG&E during the 4th quarter worth approximately $26,000. Tucker Asset Management LLC purchased a new position in shares of PG&E during the 1st quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in shares of PG&E during the 1st quarter worth approximately $32,000. IFP Advisors Inc boosted its position in shares of PG&E by 725.8% during the 2nd quarter. IFP Advisors Inc now owns 768 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 675 shares during the period. Finally, BOKF NA purchased a new position in shares of PG&E during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

PG&E Price Performance

Shares of PCG opened at $17.69 on Tuesday. The firm’s fifty day simple moving average is $16.51 and its 200-day simple moving average is $16.90. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.19. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $46.18 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 5.84 and a beta of 1.15.

PG&E (NYSE:PCGGet Free Report) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). PG&E had a return on equity of 9.21% and a net margin of 8.13%. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. PG&E’s revenue was up 9.2% compared to the same quarter last year. Equities analysts forecast that PG&E Co. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley decreased their price target on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research report on Monday. Guggenheim decreased their price target on shares of PG&E from $21.00 to $19.00 in a research report on Monday, October 9th. Mizuho raised their price target on shares of PG&E from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays decreased their price target on shares of PG&E from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.63.

View Our Latest Research Report on PCG

Insider Buying and Selling

In related news, Director Cheryl F. Campbell sold 10,000 shares of PG&E stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total transaction of $169,000.00. Following the sale, the director now directly owns 54,153 shares in the company, valued at approximately $915,185.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

PG&E Profile

(Free Report)

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.

Further Reading

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

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