Private Advisor Group LLC Purchases New Position in PG&E Co. (NYSE:PCG)

Private Advisor Group LLC purchased a new stake in PG&E Co. (NYSE:PCG) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 12,838 shares of the utilities provider’s stock, valued at approximately $231,000.

Several other hedge funds have also recently bought and sold shares of PCG. Nomura Asset Management Co. Ltd. increased its stake in shares of PG&E by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 485,114 shares of the utilities provider’s stock worth $7,825,000 after purchasing an additional 23,649 shares during the period. Signaturefd LLC increased its position in PG&E by 10.9% during the 3rd quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock worth $130,000 after buying an additional 794 shares during the period. Ieq Capital LLC lifted its holdings in shares of PG&E by 31.8% during the third quarter. Ieq Capital LLC now owns 19,017 shares of the utilities provider’s stock worth $307,000 after buying an additional 4,590 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of PG&E by 23.7% in the third quarter. Victory Capital Management Inc. now owns 786,845 shares of the utilities provider’s stock valued at $12,692,000 after acquiring an additional 150,598 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of PG&E by 4.9% in the third quarter. Assenagon Asset Management S.A. now owns 31,923 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 1,503 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is owned by insiders.

PG&E Stock Up 0.4 %

NYSE PCG opened at $18.46 on Friday. The business has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $17.14. The stock has a market capitalization of $53.15 billion, a PE ratio of 16.48 and a beta of 1.26. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.95. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

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

PG&E Announces Dividend

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

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.