Wedge Capital Management L L P NC Grows Position in PG&E Co. (NYSE:PCG)

Wedge Capital Management L L P NC boosted its holdings in PG&E Co. (NYSE:PCG) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 607,501 shares of the utilities provider’s stock after acquiring an additional 3,124 shares during the quarter. Wedge Capital Management L L P NC’s holdings in PG&E were worth $10,437,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Level Four Advisory Services LLC raised its position in PG&E by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock worth $223,000 after acquiring an additional 772 shares in the last quarter. Optiver Holding B.V. increased its position in shares of PG&E by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock valued at $86,000 after buying an additional 825 shares in the last quarter. Parallel Advisors LLC increased its position in shares of PG&E by 2.4% in the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider’s stock valued at $664,000 after buying an additional 887 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of PG&E by 9.0% in the fourth quarter. Apollon Wealth Management LLC now owns 11,168 shares of the utilities provider’s stock valued at $225,000 after buying an additional 923 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PG&E by 14.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,971 shares of the utilities provider’s stock valued at $161,000 after buying an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 2.1%

PG&E stock opened at $15.60 on Monday. The stock has a market cap of $41.74 billion, a PE ratio of 13.57, a P/E/G ratio of 1.09 and a beta of 0.60. The stock has a 50-day moving average price of $16.95 and a 200 day moving average price of $17.50. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, June 30th. PG&E’s payout ratio is 9.17%.

Insiders Place Their Bets

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares of the company’s stock, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley set a $18.00 price target on PG&E and gave the company an “underweight” rating in a research report on Thursday, May 22nd. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. BMO Capital Markets dropped their price target on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company restated an “overweight” rating and issued a $24.00 price target on shares of PG&E in a research report on Friday, April 25th. Finally, Evercore ISI raised their price target on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.