Apollon Wealth Management LLC Acquires New Position in PG&E Co. (NYSE:PCG)

Apollon Wealth Management LLC acquired a new stake in PG&E Co. (NYSE:PCG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,245 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCG. King Street Capital Management L.P. purchased a new position in PG&E during the 2nd quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA raised its position in PG&E by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after buying an additional 14,998,472 shares during the last quarter. Capital International Investors raised its position in PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after buying an additional 5,066,183 shares during the last quarter. Clearbridge Investments LLC purchased a new position in PG&E during the 2nd quarter worth approximately $56,679,000. Finally, Marshall Wace LLP raised its position in PG&E by 2,850.3% during the 2nd quarter. Marshall Wace LLP now owns 1,946,520 shares of the utilities provider’s stock worth $33,986,000 after buying an additional 1,880,542 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Price Performance

PG&E stock opened at $21.05 on Tuesday. The company’s fifty day moving average price is $20.12 and its 200 day moving average price is $18.90. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.51. The stock has a market capitalization of $55.05 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.62 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Wall Street Analyst Weigh In

PCG has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Barclays lifted their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company lifted their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

PG&E 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.