NBC Securities Inc. Increases Holdings in PG&E Co. (NYSE:PCG)

NBC Securities Inc. increased its position in PG&E Co. (NYSE:PCGFree Report) by 32,231.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,136 shares of the utilities provider’s stock after buying an additional 145,684 shares during the quarter. NBC Securities Inc.’s holdings in PG&E were worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in PG&E by 8.8% during the third quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after acquiring an additional 21,731,911 shares in the last quarter. Capital International Investors raised its position in PG&E by 7.1% in the fourth quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares during the period. Massachusetts Financial Services Co. MA increased its position in PG&E by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock worth $1,523,828,000 after buying an additional 993,923 shares in the last quarter. Third Point LLC raised its stake in PG&E by 1.8% during the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock worth $1,043,216,000 after acquiring an additional 1,000,000 shares during the period. Finally, Blackstone Inc. lifted its stake in shares of PG&E by 1.0% during the 4th quarter. Blackstone Inc. now owns 48,578,945 shares of the utilities provider’s stock valued at $875,878,000 after buying an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

PCG remained flat at $17.78 during trading hours on Wednesday. The company had a trading volume of 19,295,636 shares, compared to its average volume of 11,457,498. The business has a fifty day moving average of $17.74 and a 200-day moving average of $17.24. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. The stock has a market cap of $51.19 billion, a PE ratio of 15.88 and a beta of 1.19. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95.

PG&E (NYSE:PCGGet Free Report) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. PG&E’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Analysts expect that PG&E Co. will post 1.35 EPS for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. PG&E’s payout ratio is 3.57%.

Insider Activity at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup lifted their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target on the stock. Morgan Stanley lifted their target price on PG&E from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Mizuho boosted their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Barclays reduced their price target on shares of PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.22.

Get Our Latest Analysis on PG&E

PG&E Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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