Cwm LLC Grows Stock Position in PG&E Co. (NYSE:PCG)

Cwm LLC raised its position in PG&E Co. (NYSE:PCG) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,482 shares of the utilities provider’s stock after purchasing an additional 5,918 shares during the quarter. Cwm LLC’s holdings in PG&E were worth $427,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Planned Solutions Inc. purchased a new position in shares of PG&E in the 4th quarter worth about $37,000. Vima LLC purchased a new position in shares of PG&E in the 4th quarter worth about $41,000. CVA Family Office LLC purchased a new position in shares of PG&E in the 4th quarter worth about $43,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of PG&E in the 4th quarter worth about $47,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PG&E in the 4th quarter worth about $54,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Stock Down 1.0 %

Shares of PG&E stock opened at $17.66 on Friday. The business’s fifty day moving average price is $17.81 and its two-hundred day moving average price is $17.25. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. The company has a market capitalization of $50.85 billion, a P/E ratio of 15.77 and a beta of 1.19. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.95.

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

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

PCG has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and increased their target price for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Barclays lowered their target price on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Morgan Stanley increased their target price on PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Mizuho increased their target price on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.22.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was 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 of the company’s stock, valued at approximately $25,889,471.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

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.