PG&E Co. (NYSE:PCG) Position Cut by Tredje AP fonden

Tredje AP fonden lowered its position in shares of PG&E Co. (NYSE:PCG) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 315,880 shares of the utilities provider’s stock after selling 4,978 shares during the period. Tredje AP fonden’s holdings in PG&E were worth $5,515,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Wells Fargo & Company MN grew its position in PG&E by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after purchasing an additional 182,279 shares during the last quarter. Crestline Management LP increased its position in PG&E by 46.6% in the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock valued at $10,426,000 after acquiring an additional 183,767 shares during the period. Jupiter Asset Management Ltd. bought a new stake in PG&E during the 1st quarter valued at $2,153,000. Dai ichi Life Insurance Company Ltd boosted its position in PG&E by 379.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after acquiring an additional 60,525 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of PG&E by 24.7% in the fourth quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock worth $51,680,000 after purchasing an additional 567,929 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Down 1.8 %

Shares of NYSE PCG opened at $19.51 on Thursday. The business has a fifty day simple moving average of $18.75 and a 200-day simple moving average of $17.83. The company has a market cap of $51.02 billion, a price-to-earnings ratio of 17.42 and a beta of 1.01. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $20.65. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same period last year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays increased their price objective on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Citigroup boosted their price objective on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.45.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

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.