Bleakley Financial Group LLC Raises Holdings in PG&E Co. (NYSE:PCG)

Bleakley Financial Group LLC raised its holdings in shares of PG&E Co. (NYSE:PCG) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,806 shares of the utilities provider’s stock after buying an additional 1,111 shares during the quarter. Bleakley Financial Group LLC’s holdings in PG&E were worth $827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in PG&E during the third quarter worth approximately $1,066,000. Teilinger Capital Ltd. purchased a new position in PG&E during the third quarter worth about $13,839,000. Creative Planning boosted its holdings in PG&E by 22.5% in the 3rd quarter. Creative Planning now owns 136,364 shares of the utilities provider’s stock valued at $2,696,000 after purchasing an additional 25,006 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of PG&E by 392.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,400 shares of the utilities provider’s stock valued at $127,000 after buying an additional 5,100 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in shares of PG&E by 7.7% during the 3rd quarter. Contravisory Investment Management Inc. now owns 36,025 shares of the utilities provider’s stock worth $712,000 after buying an additional 2,561 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

PG&E Stock Performance

Shares of PG&E stock opened at $20.38 on Monday. The business has a 50-day simple moving average of $19.55 and a 200-day simple moving average of $18.37. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a one year low of $15.59 and a one year high of $20.65. The company has a market cap of $58.68 billion, a PE ratio of 18.20, a P/E/G ratio of 1.55 and a beta of 1.01.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS 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 company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is presently 3.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCG shares. Morgan Stanley upped their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Barclays boosted their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Bank of America started coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

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.