PG&E Co. (NYSE:PCG) Holdings Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in PG&E Co. (NYSE:PCG) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,112 shares of the utilities provider’s stock after purchasing an additional 1,238 shares during the period. Janney Montgomery Scott LLC’s holdings in PG&E were worth $1,657,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PCG. FMR LLC increased its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp raised its stake in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares during the last quarter. Geode Capital Management LLC boosted its position in PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares during the period. Finally, Wellington Management Group LLP grew its holdings in PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after purchasing an additional 1,822,835 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. BMO Capital Markets assumed coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective on the stock. Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, UBS Group decreased their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.36.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction 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 approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PG&E Stock Down 0.2 %

Shares of PCG opened at $15.65 on Monday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52 week low of $15.32 and a 52 week high of $21.72. The firm has a market capitalization of $40.94 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.10 and a beta of 0.98. The business’s fifty day moving average price is $19.02 and its two-hundred day moving average price is $19.39.

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

PG&E 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.