Creative Planning Acquires 25,006 Shares of PG&E Co. (NYSE:PCG)

Creative Planning grew its holdings in PG&E Co. (NYSE:PCG) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,364 shares of the utilities provider’s stock after acquiring an additional 25,006 shares during the quarter. Creative Planning’s holdings in PG&E were worth $2,696,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. acquired a new position in shares of PG&E during the first quarter worth about $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of PG&E by 19.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock worth $41,667,000 after buying an additional 410,409 shares during the period. Bayesian Capital Management LP acquired a new position in shares of PG&E during the first quarter worth about $2,377,000. Scientech Research LLC acquired a new position in shares of PG&E during the second quarter worth about $1,122,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of PG&E by 808.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after buying an additional 1,106,200 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is owned by corporate insiders.

PG&E Price Performance

Shares of NYSE PCG opened at $20.36 on Friday. The firm has a market cap of $53.25 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. PG&E Co. has a 1-year low of $15.59 and a 1-year high of $20.93. The business’s 50 day moving average is $19.77 and its 200-day moving average is $18.49.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. PG&E’s dividend payout ratio (DPR) is currently 3.42%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent research reports. Morgan Stanley upped their price objective on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, Barclays increased their price target on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

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.