PG&E Co. (NYSE:PCG) Shares Bought by Allworth Financial LP

Allworth Financial LP boosted its holdings in shares of PG&E Co. (NYSE:PCGGet Rating) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,762 shares of the utilities provider’s stock after buying an additional 6,995 shares during the period. Allworth Financial LP’s holdings in PG&E were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PCG. Signaturefd LLC grew its stake in PG&E by 66.0% during the 1st quarter. Signaturefd LLC now owns 2,135 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 849 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in PG&E during the 1st quarter valued at about $32,000. Burleson & Company LLC grew its stake in PG&E by 118.1% during the 2nd quarter. Burleson & Company LLC now owns 3,691 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,999 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in PG&E by 20.6% during the 1st quarter. Washington Trust Advisors Inc. now owns 5,489 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 938 shares during the last quarter. Finally, Elequin Capital LP purchased a new stake in PG&E during the 1st quarter valued at about $67,000. 79.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCG. UBS Group boosted their price target on PG&E to $18.00 in a research note on Friday, June 3rd. Barclays dropped their price target on PG&E from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Seaport Res Ptn restated a “neutral” rating on shares of PG&E in a research note on Monday, June 13th. Morgan Stanley upped their target price on PG&E from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. Finally, Credit Suisse Group lowered their target price on PG&E from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.20.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 83,330 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $13.00, for a total value of $1,083,290.00. Following the completion of the sale, the chief executive officer now owns 704,187 shares of the company’s stock, valued at $9,154,431. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

PG&E Price Performance

NYSE:PCG opened at $12.96 on Friday. PG&E Co. has a one year low of $9.46 and a one year high of $13.53. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.73 and a current ratio of 0.78. The stock has a market cap of $31.95 billion, a PE ratio of 216.00, a P/E/G ratio of 4.74 and a beta of 1.15. The stock has a 50 day moving average price of $11.92 and a 200 day moving average price of $11.67.

PG&E (NYSE:PCGGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). PG&E had a net margin of 1.03% and a return on equity of 10.56%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period in the prior year, the business posted $0.27 EPS. PG&E’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts expect that PG&E Co. will post 1.09 EPS for the current fiscal year.

PG&E Company Profile

(Get Rating)

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.

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

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