Creative Planning Buys 25,006 Shares of PG&E Co. (NYSE:PCG)

Creative Planning raised its holdings in PG&E Co. (NYSE:PCG) by 22.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,364 shares of the utilities provider’s stock after purchasing an additional 25,006 shares during the quarter. Creative Planning’s holdings in PG&E were worth $2,696,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PCG. Rothschild Investment LLC acquired a new stake in shares of PG&E in the 2nd quarter valued at $30,000. UMB Bank n.a. boosted its holdings in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the 2nd quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCG. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

PG&E Trading Down 1.5 %

Shares of PCG stock opened at $20.36 on Friday. The company has a market cap of $53.25 billion, a P/E ratio of 17.40, a PEG ratio of 1.58 and a beta of 1.01. PG&E Co. has a fifty-two week low of $15.59 and a fifty-two week high of $20.93. The stock has a 50 day simple moving average of $19.77 and a two-hundred day simple moving average of $18.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90.

PG&E (NYSE:PCG) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. PG&E’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. Research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. PG&E’s payout ratio is currently 3.42%.

PG&E Company Profile

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.