Brookstone Capital Management Makes New $256,000 Investment in PG&E Co. (NYSE:PCG)

Brookstone Capital Management purchased a new position in PG&E Co. (NYSE:PCG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,246 shares of the utilities provider’s stock, valued at approximately $256,000.

A number of other institutional investors have also bought and sold shares of the business. Planned Solutions Inc. bought a new position in shares of PG&E during the 4th quarter valued at about $37,000. Vima LLC bought a new position in shares of PG&E during the 4th quarter valued at about $41,000. CVA Family Office LLC bought a new position in shares of PG&E during the 4th quarter valued at about $43,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of PG&E during the 4th quarter valued at about $47,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of PG&E during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Mizuho increased their price target on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley lowered their price target on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. The Goldman Sachs Group started coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Citigroup increased their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Down 0.5 %

Shares of NYSE PCG opened at $17.08 on Wednesday. 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 cap of $49.18 billion, a P/E ratio of 15.25 and a beta of 1.08. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $18.95. The firm has a 50-day simple moving average of $17.93 and a two-hundred day simple moving average of $17.24.

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

PG&E Dividend Announcement

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

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.