Envestnet Portfolio Solutions Inc. Buys 1,490 Shares of PG&E Co. (NYSE:PCG)

Envestnet Portfolio Solutions Inc. grew its stake in PG&E Co. (NYSE:PCG) by 12.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,183 shares of the utilities provider’s stock after purchasing an additional 1,490 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in PG&E were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PCG. Vanguard Group Inc. grew its stake in PG&E by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after acquiring an additional 21,731,911 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PG&E by 27.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider’s stock worth $1,347,215,000 after acquiring an additional 18,180,432 shares in the last quarter. FMR LLC grew its stake in PG&E by 2.4% in the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock worth $2,839,363,000 after acquiring an additional 4,044,631 shares in the last quarter. Northern Trust Corp grew its stake in PG&E by 21.7% in the 3rd quarter. Northern Trust Corp now owns 18,270,915 shares of the utilities provider’s stock worth $294,710,000 after acquiring an additional 3,258,363 shares in the last quarter. Finally, Invesco Ltd. grew its stake in PG&E by 26.5% in the 3rd quarter. Invesco Ltd. now owns 13,912,718 shares of the utilities provider’s stock worth $224,412,000 after acquiring an additional 2,916,407 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Price Performance

Shares of PCG opened at $18.46 on Friday. The company has a market cap of $53.15 billion, a price-to-earnings ratio of 16.48 and a beta of 1.26. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.95. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The company has a 50 day moving average of $17.17 and a two-hundred day moving average of $17.14.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. As a group, analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. PG&E’s dividend payout ratio is currently 3.57%.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the topic of a number of recent research reports. Mizuho increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Barclays increased their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.44.

About PG&E

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.