GAMMA Investing LLC Purchases 3,163 Shares of PG&E Co. (NYSE:PCG)

GAMMA Investing LLC grew its holdings in PG&E Co. (NYSE:PCG) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,991 shares of the utilities provider’s stock after acquiring an additional 3,163 shares during the quarter. GAMMA Investing LLC’s holdings in PG&E were worth $424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Asset Management Inc grew its position in shares of PG&E by 1.8% during the 2nd quarter. TD Asset Management Inc now owns 818,270 shares of the utilities provider’s stock worth $14,287,000 after purchasing an additional 14,185 shares in the last quarter. Candriam S.C.A. increased its stake in PG&E by 15.0% during the 2nd quarter. Candriam S.C.A. now owns 271,081 shares of the utilities provider’s stock worth $4,733,000 after acquiring an additional 35,407 shares during the period. Los Angeles Capital Management LLC acquired a new position in PG&E in the 2nd quarter valued at $179,000. Acadian Asset Management LLC bought a new stake in shares of PG&E during the 2nd quarter valued at $451,000. Finally, Ballentine Partners LLC grew its holdings in shares of PG&E by 3.1% during the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 666 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Trading Up 1.9 %

Shares of PCG stock opened at $20.40 on Monday. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.72. The stock’s fifty day simple moving average is $20.46 and its 200 day simple moving average is $19.44. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $53.35 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.51 and a beta of 0.98.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, sell-side analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio (DPR) is presently 7.81%.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCG shares. Mizuho upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America assumed coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. UBS Group reduced their target price on PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Barclays lowered their price target on PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

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.